Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
5th Edition
ISBN: 9780134078939
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter 9, Problem 9.35AP
Journalizing partial-year
During 2016, Zora Corporation completed the following transactions:
| Jan. 1 | Traded in old office equipment with book value of $60,000 (cost of $129,000 and |
| Apr. 1 | Sold equipment that cost $48,000 (accumulated depreciation of $39,000 through December 31 of the preceding year). Zora received $6,100 cash from the sale of the equipment. Depreciation is computed on a straight-line basis. The equipment has a five-year useful life and a residual value of $0. |
| Dec. 31 | Recorded depreciation as follows: Office equipment is depreciated using the double-declining-balance method over four years with a $4,000 residual value. |
Record the transactions in the journal of Zora Corporation.
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Chapter 9 Solutions
Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
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