G CentralLink I Central Mic My Ch 9-Property, Plant, Eq. × ? Power Point Slides-
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G CentralLink I Central Mic My Ch 9-Property, Plant, Eq. × ? Power Point Slides-AC Í WileypLUS VitalSource l Bookshelf × C Secure | https://edugen.??leyplus.com/ed WileyPLUS: MyWileyPLUSI Help | Contact Us I Loa Out Weygandt, Financial Accounting, 10e TING (ACC 250 (DEWITT)) Home Read, Study & Practice Gradebook ORION Downloadable eTextbook Assignment Open Assignment CALCULATOR FULLSCREEN pRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Exercise 9-10 Chapter9 Bramble Corp. owns equipment that cost $62,600 when purchased on January 1, 2016. It has been depreciated using the straight-line method based on an estimated salvage value of $4,400 and an estimated useful life of 5 years. Prepare Bramble Corp.'s journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g.125. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) (b) (c) Sold for $29,920 on January 1, 2019 Sold for $29,920 on May 1, 2019 Sold for $10,100 on January 1, 2019 Sold for $10,100 on October 1, 2019 (d) No. Account Titles and Explanation Debit Credit To record depreciation) 11:06 PM EN ? l'?.all?..) 4/1/2018Explanation / Answer
a) Depreciation a/c dr. 34920
To accumulated depreciation 34920
cash a/c dr. 29920
accumulated depreciation 34920
To equipment 62600
To gain on sale 2240
b)
Depreciation a/c dr. 38800
To accumulated depreciation 38800
cash a/c dr. 29920
accumulated depreciation 38800
To equipment 62600
To gain on sale 6120
c)
Depreciation a/c dr. 34920
To accumulated depreciation 34920
cash a/c dr. 10100
accumulated depreciation 34920
loss on sale 17580
To equipment 62600
d)
Depreciation a/c dr. 43650
To accumulated depreciation 43650
cash a/c dr. 10100
accumulated depreciation 43650
loss on sale 8850
To equipment 62600
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