dont know how to calculate usingdouble diminishing method, read the highlighted text in red for...
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dont know how to calculate usingdouble diminishing method, read the highlighted text in red for rounding rules when calculating
Pharoah Productions Corp. purchased equipment on March 1, 2024, for \$55,800. The company estimated the equipment would have a useful life of three vears and produce 10,000 units, with a residual value of $9,000. During 2024, the equipment produced 4,900 units. On November 30,2025 , the equipment was soid for $18,000 and had produced 6,300 units that year. (a) Record all the necessary journal entries for the years ended December 31, 2024 and 2025, using the following depreciation methods: (List oll debit entries before credit entries. Credit account titles are outomatically indented when the amount is entered. Do not indent monually. If no entry is required, select 'No Entry' for the account titles and enter O for the amounts. Round the depreciation rate in the double diminishing balance method to the nearest whole percent, es. 43\% and round depreciation per unit in the units-of-production depreciation method to 2 decimal places, es. 2.25 and final answers to 0 decimal ploces, es. 5,275.) Date Account Titles and Explanation Debit Credit 2024 Mar. 1 Equipment 55800 Cash 55800 Dec. 31 Depreciation Expense 30690 Accumulated Depreciation - Equipment 37162 2025 Nov, 30 Depreciation Expense 15156 Accumulated Depreciation-Equipment 15156 (To record depreciation expense) Nov. 30 Cash 10000 Accumulated Depreciation - Equipment 46157 Accumulated Depreciation - Equipment (To record depreciation expense) Nov. 30 Cash Accumulated Depreciation - Equipment Equipment Gain on Disposal (To record the sale of equipment)



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