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.
$\begin{array}{|l|r|r|}\hline \text { Jul-01 Depreciation Expense } * & 122,500 & \\\hline \text { Accumulated Depreciation, Computer } & & 122,500 \\\hline\\\hline \text { 1 Cash } & 1,000,000 & \\\hline \text { Accumulated depreciation, Computer ** } & 612,500& \\\hline \text { Computer Equipment } & & 1,600,000\\\hline \text { Gain on Disposal of Equipment *** } & & 12,500\\\hline \\\hline\end{array}$
$\begin{array}{l}*((\$ 1,600,000-\$ 130,000) / 6) \times 1 / 2 \\\hline **(\$ 1,600,000-\$ 130,000) / 6) \times 2.5 \text { years }=\$ 612,500\end{array}$

Recognize the characteristics and applications of major needs theories.

Analyze scenarios to identify missing elements in achieving personal goals related to motivation.

Understand the significance of maintaining effort and direction in motivation.

Acknowledge the role of motivation in personal and organizational accomplishments.

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Definitions:

Lewd Jokes

Jokes that are vulgar or indecent in nature, often dealing with sexual matters in a way that is meant to be funny but can be offensive.

Industrial/Organizational Psychology

The branch of psychology that applies psychological theories and principles to organizations and the workplace.

Atheoretical Orientation

An approach to research or practice that is not guided by a formal theory, often relying on empirical evidence alone.

Basic Research

Basic research is a type of scientific investigation that focuses on expanding knowledge and understanding fundamental principles without immediate application toward solving practical problems.