Barnhart's Sold a Piece of Restaurant Equipment to Another Restaurant $$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline\end{array}$$

question 52

Essay

Barnhart's sold a piece of restaurant equipment to another restaurant on July 1,2013 for $1,100 cash.The equipment originally cost $12,000,had an estimated life of 20 years,and an estimated salvage value
of $2,000.Barnhart's had recorded total depreciation of $9,000 through the end of 2012,using the straight-line method.Barnhart's had to update the depreciation of the asset before recording the sale.Please provide the entry to record that additional depreciation.
$$\begin{array} { | l | l | l | } \hline \quad\quad& \quad&\quad \\\hline & & \\\hline\end{array}$$

---

Definitions:

Financial Performance

Financial performance refers to the assessment of a company's revenue, expenses, and earnings to understand its economic health and efficiency.

Foreign Exchange Rate

The price of one currency in terms of another currency, determining how much of one currency can be exchanged for another.

Business Transactions

Financial activities or operations that involve an exchange of goods, services, or funds between two or more parties.

Equity Securities

Equity securities represent an ownership interest held in a company by individuals or firms in the form of stocks.