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21-12-2022
Business

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equipment acquired on january 8 at a cost of $113,950 has an estimated useful life of 12 years, has an estimated residual value of $7,150, and is depreciated by the straight-line method. a. what was the book value of the equipment at december 31 the end of the fifth year? b. assuming that the equipment was sold on april 1 of the sixth year for $60,755, journalize the entries to record (1) depreciation for the 3 months until the sale date and (2) the sale of the equipment.

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