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Danner CoPurchased a Computer on January 1,2014,for $1,600,000

question 188

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Danner Co.purchased a computer on January 1,2014,for $1,600,000.The straight-line method of depreciation was used,based on an expected life of 6 years and a residual value of $130,000.Prepare the journal entries to record depreciation for the first 6 months of 2016 and the sale of the computer on July 1,2016,for $1,000,000. Danner Co.purchased a computer on January 1,2014,for $1,600,000.The straight-line method of depreciation was used,based on an expected life of 6 years and a residual value of $130,000.Prepare the journal entries to record depreciation for the first 6 months of 2016 and the sale of the computer on July 1,2016,for $1,000,000.

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Definitions:

Medical Science

The branch of science focused on the study, diagnosis, treatment, and prevention of diseases and the promotion of human health.

Property Interest

A legal right or claim to property, including ownership, use, or investment stakes.

Enforceable

Capable of being imposed or carried out by legal process or by force; applicable to obligations or contracts that can be legally compelled.

Contract of Adhesion

A standard-form agreement prepared by one party, with the other party having little to no ability to negotiate more favorable terms.

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