A Company Purchased a Computer System on January 1,2009,for $1,600,000

question 194

Essay

A company purchased a computer system on January 1,2009,for $1,600,000.Prepare the journal entries to record depreciation for the first 6 months of 2011 and the sale of the computer assuming it is sold on July 1,2011,for $1,000,000 cash.The straight-line method of depreciation was used based on an expected life of six years and a salvage value of $130,000.

---

Definitions:

Fields of Experience

The varied backgrounds, knowledge, perceptions, and attitudes that individuals bring to a communication context, influencing how messages are understood.

Communication Process

The series of steps through which a message is transmitted from a sender to a receiver, involving encoding, channel selection, decoding, and feedback.

Encoding

The process of converting information into a particular format for efficient communication, processing, or storage.

Fields of Experience

Domains or areas in which consumers have direct personal interactions, shaping their perceptions, attitudes, and behaviors toward products or services.