angeltey
Nov 23, 2013, 05:14 PM
E9-10
Beka Company owns equipment that cost $50,000 when purchased on January 1, 2008.
It has been depreciated using the straight-line method based on estimated salvage value of
$5,000 and an estimated useful life of 5 years.
Instructions
Prepare Beka Company's journal entries to record the sale of the equipment in these four independent
Situations.
(a) Sold for $28,000 on January 1, 2011.
(b) Sold for $28,000 on May 1, 2011.
(c) Sold for $11,000 on January 1, 2011.
(d) Sold for $11,000 on October 1, 2011.
Beka Company owns equipment that cost $50,000 when purchased on January 1, 2008.
It has been depreciated using the straight-line method based on estimated salvage value of
$5,000 and an estimated useful life of 5 years.
Instructions
Prepare Beka Company's journal entries to record the sale of the equipment in these four independent
Situations.
(a) Sold for $28,000 on January 1, 2011.
(b) Sold for $28,000 on May 1, 2011.
(c) Sold for $11,000 on January 1, 2011.
(d) Sold for $11,000 on October 1, 2011.