Paulson corporation purchased equipment on January 1, 2020 for $168,000 it is estimated that the...
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Paulson corporation purchased equipment on January 1, 2020 for $168,000 it is estimated that the equipment will have a $14,000 residue or value at the end of it eight year useful life it is also estimated that the equipment will produce 110,000 units over its 8-year life. on December 31, 2022, Polson Celsey equipment for $85,000 possum produced 20,000 units in 2020 24,000 units in 2021 and 22,000 units in 2022. (a) determine the caring amount of the equipment at December 31, 2022 using the units of production method of depreciation (b) prepare the appropriate journal entry for the sale of the equipment
(a) determine the caring amount of the equipment at December 31, 2022 using the units of production method of depreciation
(b) prepare the appropriate journal entry for the sale of the equipment
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