Future Foundations purchased equipment on January 1, 2019, for $50,000, with an estimated useful life of 5 years and an estimated residual value of $5,000. The company uses the straight-line method of depreciation. On July 1, 2021, the equipment was sold for $17,500 cash.
Prepare journal entries for the following:A) Depreciation expense for 2019;B) Depreciation expense for 2020; andC) Sale of the equipment in 2021.
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During a review of the financial statements of a nonpublic entity, an accountant becomes aware of inadequate disclosure that is material to the financial statements. If management refuses to correct the financial statement presentations, the accountant should:
A. issue an "except for" qualified opinion. B. issue an adverse opinion. C. express only limited assurance on the financial statement presentations. D. disclose this departure from generally accepted accounting principles in a separate paragraph of the report.
The conflict management style a team uses can be _____ or _______.
a. Cooperative; competitive. b. Collaborative; competitive. c. Collaborative; avoidant. d. Constructive; cooperative.
A database ___________________________ is a block of PL/SQL code that runs automatically when a particular database event occurs.
Fill in the blank(s) with the appropriate word(s).
On January 1, 2017, NOLA Services issued $20,000 of 8% bonds that mature in five years. The bonds were issued for $20,750. Prepare the journal entry to issue bonds
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