On april 1 2010 a company disposed of equipment for 14200, Ask an Expert

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on April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2006. The equipment had a salvage value of $5,000, and a useful life 10 years. The double-declining- balance depreciation method was used. On december 31, 2009, accumulated depreciation was $20,664. Prepare a journal entry to record depreciation for 2010 up to the date of disposal of the equipment, and prepare a journal entry to record the disposal of the equipment.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9418573

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