(Answered) Question - assume that on jan 2 20x6 lasalle of lyon

Accounting

Question - Assume that on Jan 2, 20x6, LaSalle of Lyon purchased fixtures for $8,300 cash, expecting the fictures to remain in service for 5 years. LaSalle has depreciated the fixtures on a double declining balance basis with 1700 estimated residual value. On September 30, 20x7, LaSalle sold the fixtures for 2300 cash. Record both the Depreciation expense on the fixtures for 20x7 and then the sale of the fixtures. Apart from your Journal entry, also show how to compute the gain or loss on LaSalle's disposal of these fixtures.

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