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

question 104

Essay

On July 1st, Harding Construction purchases a bulldozer for $228,000. The equipment has a 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 31st.
(b) Calculate the third year's depreciation expense and provide the journal entry for the third year ending December 31st.
(c) Calculate the last year's depreciation expense and provide the journal entry for the last year.
Annual depreciation is:

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Definitions:

Internal Obligation

A personal sense of duty or responsibility that motivates individuals to act in a certain way without external pressure.

Social Planning Model

A method of intervention that emphasizes organized and collective action to address social issues and improve community well-being.

Community Development

A process where community members come together to take collective action and generate solutions to common problems.

Theory Y

A management concept that assumes employees are self-motivated, seek responsibility, and are creative problem solvers.