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.

First thing you need to do is calculate the depreciation for 3 full years for items a and c. For b you need to calculate for 3 years and 4 months. For d you need to calculate for 3 years and 9 months.

Straight line depreciation is very simple to compute. Simply take cost of the equipment minus the salvage value to get your depreciable base, then divide this number by the number of years of useful life per year to get your depreciation per year. To get a partial year depreciation you need to take the dpreciation per year times number of months to compute divided by 12 months to get the partial depreciation amount.

The amount of depreciation you calculate for a through d is called Accumulated depreciation.

For each scenario the basic journal entry will be the same:

Debit Cash if cash received or Accounts Receivable if on account or Notes Payable if a note assigned or a combination of the three for the amount of the sale
Debit Accumulated Depreciation for the amounts caulculated in each senario
Credit Equipment for the cost of the equipment
and Credit Gain on sale of equipment or a Debit Loss on sale of equipment for the difference to bring your debits tequal your credits or to bring your credits to equal your debits.

This is a bogus answer I need to knpw what acct to post these entries to

I am working on a computer system through the college I need toknow where to pot these entries and to which accts

I need numbers or I would not be asking

I need to know how to post thes and where to debit and credit

First of all, you do not know how to ask a question. If you look at my previous post I showed you how to work the problem to get the amounts needed for scenarios a through d. Secondly I gave you the journal entries you need for each scenario. I showed you how to work your problem from beginning to the end.

Here is your journal entries again:

A;
Debit Cash for 28,000
Debit Accumulated Depreciation - Equipment for 27,000
Credit Equipment for 50,000
Credit Gain on Sale of Equipment for 5,000

b;
Debit Cash for 28,000
Debit Accumulated Depreciation - Equiment for 30,000
Debit Loss on Sale of Equipment for 8,000
Credit Equipment for 50,000

c;
Debit Cash for 11,000
Debit Accumulated Depreciation - Equiment for 27,000
Debit Loss on Sale of Equipment for 12,000
Credit Equipment for 50,000

d;
Debit Cash for 11,000
Debit Accumulated Depreciation - Equipment for 33,750
Debit Loss on Sale on Equipment for 5,250
Credit Equipment for 50,000

Just knowing the numbers does not mean anything and will not help you especially when you are taking a test or quiz. You need to know how to work the problem to get the numbers.