On April 1,2010,a Company Disposed of Equipment for $14,200 Cash

question 106

Essay

On April 1,2010,a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1,2005.The equipment had a salvage value of $5,000 and a useful life 10 years.The double-declining-balance depreciation method was used.On December 31,2009,accumulated depreciation was $20,664.Prepare a journal entry to record depreciation for 2010 up to the date of disposal of the equipment and prepare a journal entry to record the disposal of the equipment.

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Definitions:

Genetic Influence

The impact of genes on the traits or behavior of an organism, including physical characteristics, health conditions, and behavioral tendencies.

Biomedicine

focuses on the application of biological and physiological principles to clinical practice, emphasizing the diagnosis and treatment of diseases.

Body-mind Continuum

The body-mind continuum is a concept that emphasizes the interconnection and inseparability of the physical and mental aspects of an individual's being, influencing health and wellness.

Self-awareness

The awareness of an individual’s own personality, emotions, intentions, and wishes.