Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $236,000 has an estimated...

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Accounting

Disposal of Fixed Asset
Equipment acquired on January 6 at a cost of $236,000 has anestimated useful life of 9 years and an estimated residual value of$30,800.
a. What was the annual amount of depreciation for the Years 1-3using the straight-line method of depreciation?
YearDepreciation Expense
Year 1$
Year 2$
Year 3$
b. What was the book value of the equipment on January 1 of Year4?
$
c. Assuming that the equipment was sold on January 3 of Year 4for $159,200, journalize the entry to record the sale. If an amountbox does not require an entry, leave it blank.
Jan. 3
d. Assuming that the equipment had been sold on January 3 ofYear 4 for $171,000 instead of $159,200, journalize the entry torecord the sale. If an amount box does not require an entry, leaveit blank.
Jan. 3

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Disposal of Fixed AssetEquipment acquired on January 6 at a cost of $236,000 has anestimated useful life of 9 years and an estimated residual value of$30,800.a. What was the annual amount of depreciation for the Years 1-3using the straight-line method of depreciation?YearDepreciation ExpenseYear 1$Year 2$Year 3$b. What was the book value of the equipment on January 1 of Year4?$c. Assuming that the equipment was sold on January 3 of Year 4for $159,200, journalize the entry to record the sale. If an amountbox does not require an entry, leave it blank.Jan. 3d. Assuming that the equipment had been sold on January 3 ofYear 4 for $171,000 instead of $159,200, journalize the entry torecord the sale. If an amount box does not require an entry, leaveit blank.Jan. 3