On July 1, Harding Construction Purchases a Bulldozer for $228,000

question 186

Essay

On July 1, Harding Construction purchases a bulldozer for $228,000. The equipment has an 8-year life with a residual value of $16,000. Harding uses straight-line depreciation.
(a) Calculate the depreciation expense and provide the journal entry for the first year ending December 31.
(b) Calculate the third year's depreciation expense and provide the journal entry for the third year ending
December 31.
(c) Calculate the last year's depreciation expense and provide the journal entry for the last year.

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Definitions:

Premise

An initial statement or proposition from which another is inferred or follows as a conclusion.

Exhausting

Causing extreme tiredness and depletion of energy; very demanding and tiring.

Argument

A set of statements or reasons made to persuade others that an action or idea is right or wrong.

Premise

A previous statement or proposition from which another is inferred or follows as a conclusion.