just give the final answer is ok Question 6 1 pts Equipment with an original cos
ID: 2542195 • Letter: J
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just give the final answer is ok
Question 6 1 pts Equipment with an original cost of $120,000 and accumulated depreciation of $85,000 is sold for cash proceeds of $15,000. Which of the following would be included in the journal entry to record the disposal of the equipment? CR Cash $15,000 CR Equipment $35,000 DR Accumulated depreciation $85,000 DR Gain on sale $15,000 Question 7 1 pts If a company uses the units-of-production method of depreciation for an asset, which of the following pieces of information is not required? None of the other answers is correct - all of that information is required. the original purchase cost of the asset. the useful life of the asset in years. the residual (salvage) value of the asset.Explanation / Answer
Q6) Account titles & explanations Debit Credit Cash 15,000 Accumulated deprecaition 85,000 loss on disposal 20,000 Equipment 120,000 Answer DR Accumulated depreciation $85,000 Q7) the useful life of the assets in years q8) the diminishing balance method Q9) Goodwill (it is an intangible asset) Q10) the carrying amount is greater than the recoverable amount
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