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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.


Definitions:

Ideal Values

Principles or standards of behavior considered most important and desirable by an individual or group.

Everyday Action-directed

Pertaining to activities or tasks that people engage in on a regular basis, with a focus on achieving specific outcomes.

Job Performance

The level of effectiveness and efficiency with which an employee performs their job duties.

Vice Versa

A Latin phrase that means the other way around; it indicates that the relationship or situation can be reversed.

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