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-   -   I really need some help with this problem please! (https://www.askmehelpdesk.com/showthread.php?t=705185)

  • Sep 26, 2012, 06:30 PM
    makami4
    I really need some help with this problem please!
    Equipment acquired on January 5, at cost of 1,177,200, has an estimated residual value of 15 years, has an estimated residual value of $ 97,200, and is depreciated by the straight-method.
    a. What was the book value of the equipment at December 31, 2012, the end of the year?
    (I got this answer.. $ 889,200)

    b. Assume that the equipment was sold on April, 2013, for $801,500.

    If someone can help me out with the b. I really don't know a lot of accounting I tried some many ways to get the answer but I can't.. I though this is a "basic accounting"... but it seems that is advance accounting... I will appreciate any help!
  • Sep 27, 2012, 09:19 AM
    pready
    This is a duplicate post and there is a response with the steps involved to solve the problem on the other post.

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