Beka company owns equipment, Accounting Basics

Beka company owns equipment

Beka Company owns equipment that cost $56,260 when purchased on January 1, 2008. It has been depreciated using the straight-line method based on estimated salvage value of $4,800 and an estimated useful life of 5 years.Prepare Beka Company's journal entries to record the sale of the equipment in these four independent situations.

Sold for $31,876 on January 1, 2011.
Sold for $31,876 on May 1, 2011.
Sold for $10,120 on January 1, 2011.
Sold for $10,120 on October 1, 2011.

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Accounting Basics: Beka company owns equipment

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Accounting Basics: Beka company owns equipment

Reference No:- TGS0686016

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Recent Questions Asked Accounting Basics

Q : What issues should mike consider

Q : Determine the effect on net income and earnings

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Q : What is the proper cash balance at march

Q : Beka company owns equipment

Q : Find the unknowns for each of the divisions

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Ask an Expert for Answer!!

Accounting Basics: Beka company owns equipment

Reference No:- TGS0686016

Recent Questions Asked Accounting Basics

Q : What issues should mike consider

Q : Determine the effect on net income and earnings

Q : Compute the new machine net present value

Q : What is the proper cash balance at march

Q : Beka company owns equipment

Q : Find the unknowns for each of the divisions

Q : How subsidiary corporation property received for the bonds

Q : What are the total variable expenses

Q : What amount of net income is available to common stockholder

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