Williams Company Acquired Machinery on July 1, 2009, at a Cost

question 89

Essay

Williams Company acquired machinery on July 1, 2009, at a cost of $130,000. The estimated useful life of the machinery was 10 years and the estimated residual value was $10,000. Williams uses the double-declining-balance method of depreciation. On October 1, 2012, Williams sold the equipment for $75,000.
1) Record the journal entry for the depreciation on this machinery for 2012.
2) Record the journal entry for the sale of the machinery.

Recognize the importance of maintaining a personal, authentic voice in blogs for effective audience engagement.

Identify strategies for managing and enhancing the impact of social media presence for businesses.

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Definitions:

Victims

Individuals who suffer harm as a result of criminal activity, negligence, or another wrongful action.

Last Clear Chance Doctrine

A largely outdated principle of torts that the last person capable of avoiding the accident is wholly responsible.

Liability

Legal responsibility for one's actions or omissions, which can lead to civil duty or financial compensation.

Age

The length of time that a person or entity has been alive or in existence.