Danner Co Purchased a Computer on January 1, 2019, for $1,600,000

question 109

Essay

Danner Co. purchased a computer on January 1, 2019, for $1,600,000. The straight-line method of depreciation was used, based on an expected life of 6 years and a residual value of $130,000. Prepare the journal entries to record depreciation for the first 6 months of 2021 and the sale of the computer on July 1, 2021, for $1,000,000.
$\begin{array}{|l|r|r|}\hline \text { Jul-01 Depreciation Expense } * & 122,500 & \\\hline \text { Accumulated Depreciation, Computer } & & 122,500 \\\hline\\\hline \text { 1 Cash } & 1,000,000 & \\\hline \text { Accumulated depreciation, Computer ** } & 612,500& \\\hline \text { Computer Equipment } & & 1,600,000\\\hline \text { Gain on Disposal of Equipment *** } & & 12,500\\\hline \\\hline\end{array}$
$\begin{array}{l}*((\$ 1,600,000-\$ 130,000) / 6) \times 1 / 2 \\\hline **(\$ 1,600,000-\$ 130,000) / 6) \times 2.5 \text { years }=\$ 612,500\end{array}$

Understand the benefits and challenges of workplace diversity.

Recognize the importance of inclusivity in fostering a supportive work environment.

Identify the economic and social impacts of prejudice and discrimination in the workplace.

Understand the legal and ethical foundations of affirmative action and anti-discrimination laws.

---

Definitions:

General Aim

A broad, overarching goal that guides actions and planning in various contexts, often less specific than objectives.

Gene-Environment Interaction

Gene-Environment Interaction describes how an individual's genetic makeup and environmental exposures combine to influence the expression of traits or susceptibility to disorders.

Environmental Stressors

Physical or psychological factors from one's surroundings that cause stress or discomfort.

Psychopathology

Psychopathology refers to the study of mental disorders, including their symptoms, causes, and treatment.