Find an Online Tutor Now

Emma S.

asked • 03/28/15

Accounting Help

Pryce Company owns equipment that cost $65,000 when purchased on January 1, 2012. 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.
 

Prepare Pryce Company’s journal entries to record the sale of the equipment in these four independent situations. 
 

(a) Sold for $31,000 on January 1, 2015.
(b) Sold for $31,000 on May 1, 2015.
(c) Sold for $11,000 on January 1, 2015.
(d) Sold for $11,000 on October 1, 2015.

1 Expert Answer

By:

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.