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

question 145

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:

Old Routines

Established habits or ways of doing things that are often resistant to change.

Role Patterns

Refers to the typical behaviors, responsibilities, and expectations associated with particular positions or roles within an organization or social setting.

Change Management

The discipline that guides how to prepare, equip, and support individuals to successfully adopt change in order to drive organizational success and outcomes.

Refreezing

Represents the final stage in Lewin's change management model where new behaviors or changes are solidified into the organizational culture after a change process.