Nash D.

asked • 12/16/14

Prepare all journal entries needed on 9/30/2014 to record the disposal; Show your computations

Parker Industries has a fiscal year end of 12/31 and uses the straight-line method of depreciation. On
Sept 30, 2014, the company sold old delivery equipment for $17,000. The delivery equipment was purchased on Jan 1, 2012, for $24,000 and was estimated to have a $4,000 salvage value at the end of its 5-year life.
Depreciation on the delivery equipment has been recorded once a year through Dec 31, 2013.

Instruction:
Prepare all journal entries needed on 9/30/2014 to record the disposal; Show your computations

1 Expert Answer

By:

Brian D. answered • 12/20/14

CPA with Years of Tutoring Experience

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