Briyanne Company Purchased a Computer for $5,000

question 74

Essay

Briyanne Company purchased a computer for $5,000. During 2015 and 2016, the company recorded total depreciation of $4,000 on the computer. On January 1, 2017, the company traded in the computer for a new one, paying $4,000 cash. The fair market value of the new computer is $6,000. Journalize the company's exchange of computers. Assume the exchange had commercial substance.

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Definitions:

Ageism

Prejudice or discrimination against individuals based on their age, typically against older adults.

Technological Skills

Abilities and expertise in specific areas related to the use, understanding, and development of tools, machines, techniques, and systems.

Assistance

The act of helping or supporting someone or something, often with resources or advice.

Social Approval

The positive recognition or acceptance from others in a social context, often influencing behavior and self-perception.