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On January 2, 2006, Ditto Clothing Consignments purchased showroom fixtures for the $10000 cash, expecting the fixtures to remain in service 5-years. Ditto has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2009, Ditto sold the fixtures for $6200 cash.

Record both the depreciation for 2007 and sale of the fixtures on September 30, 2007.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M919255

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