Monthly depreciation is calculated as follows:
65,000 (Cost) – 5,000 (Salvage Value) ÷ 60 (5 years X 12 months per year) = 1,000 in depreciation per month.
a) Accumulated depreciation from 1/1/12 to 1/1/15 is 36,000 (12 months for 2012, 2013, & 2014).
Assuming that sale was a Cash sale, the journal entry would look like this:
1/1/15
Cash (DR) 31,000
Accumulated Depreciation (DR) 36,000
Equipment (CR) 65,000
Gain on Sale of Equipment (CR) 2,000
b) Accumulated depreciation from 1/1/12 to 5/1/15 is 40,000 (12 months for 2012, 2013, 2014, & 4 months for 2015).
Assuming that sale was a Cash sale, the journal entry would look like this:
5/1/15
Cash (DR) 31,000
Accumulated Depreciation (DR) 40,000
Equipment (CR) 65,000
Gain on Sale of Equipment (CR) 6,000
c) Accumulated depreciation from 1/1/12 to 1/1/15 is 36,000 (12 months for 2012, 2013, & 2014).
Assuming that sale was a Cash sale, the journal entry would look like this:
1/1/15
Cash (DR) 11,000
Accumulated Depreciation (DR) 36,000
Loss on Sale of Equipment (DR) 18,000
Equipment (CR) 65,000
d) Accumulated depreciation from 1/1/12 to 10/1/15 is 45,000 (12 months for 2012, 2013, 2014, & 9 months for 2015).
Assuming that sale was a Cash sale, the journal entry would look like this:
10/1/15
Cash (DR) 11,000
Accumulated Depreciation (DR) 45,000
Loss on Sale of Equipment (DR) 9,000
Equipment (CR) 65,000
Not my answers, but I hope this will help you. :)
Answer:In a free market economy, the law of supply and demand, rather than a central government, regulates production and labor. Companies sell goods and services at the highest price consumers are willing to pay, while workers earn the highest wages companies are willing to pay for their services. A purely capitalist economy is a free market economy; the profit motive drives all commerce and forces businesses to operate as efficiently as possible to avoid losing market share to competitors.
Step-by-step explanation:
Answer:
The correct answer is option A
Step-by-step explanation:
The volume of a cylinder is given by
Substituting the values of radius and height in above equation, we get -
