Beka Company owns equipment that cost $50,000 when purchased on - 10291

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yousafbhutta

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Question 5


 

Beka Company owns equipment that cost $50,000 when purchased on January 1, 2008. 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 Beka Company's journal entries to record the sale of the equipment in these four independent situations.

 

Sold for $28,000 on January 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

 

Sold for $28,000 on May 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

 

Sold for $11,000 on January 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

 

Sold for $11,000 on October 1, 2011. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

 

 

 

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