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A Company Purchased a Computer System on January 1,2012,for $1,600,000

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A company purchased a computer system on January 1,2012,for $1,600,000.Prepare the journal entries to record depreciation for the first six months of 2014 and the sale of the computer assuming it is sold on July 1,2014,for $1,000,000 cash.The straight-line method of depreciation was used based on an expected life of six years and a salvage value of $130,000.


Definitions:

Two-way ANOVA

An analytical test designed to evaluate the influence of two nominal independent variables on a continuous variable of interest.

One-way ANOVA

A statistical test used to compare the means of three or more independent groups to determine if there are any statistically significant differences between the groups' means.

Assumptions

Fundamentals or conditions presumed to be true or accepted as base for any analysis or experiment without having them directly proven.

Profile Plot

A graphical representation of the interaction patterns between treatments and quantitative measurements across various conditions or time points.

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