Essay
On April 1,2013,a company discarded a computer that cost $15,000 and that had a useful life of four years and a salvage value of $1,000.Using straight-line depreciation,the accumulated depreciation as of December 31,2012,was $10,700.
a.Prepare the journal entry to record depreciation up to the date of disposal of the computer
b.Prepare the journal entry to record the disposal of the computer.
Correct Answer:
Verified
Correct Answer:
Verified
Q29: Revising an estimate of the useful life
Q38: A copyright gives its owner the exclusive
Q193: A company's old machine,which cost $40,000 and
Q194: Most companies use accelerated depreciation for tax
Q195: When the value of plant assets decline
Q199: A leasehold:<br>A)Is a short-term rental agreement.<br>B)Is the
Q200: The Weiss Company purchased a truck for
Q201: Heidel Co.paid $750,000 cash to buy the
Q202: A depreciable asset currently has a $40,100
Q217: Define plant assets and identify the four