148. On April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2005. The equipment had a salvage value of $5,000 and a useful life 10 years. The...

148. On April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2005. The equipment had a salvage value of $5,000 and a useful life 10 years. The double-declining-balance depreciation method was used. On December 31, 2009, accumulated depreciation was $20,664. Prepare a journal entry to record depreciation for 2010 up to the date of disposal of the equipment and prepare a journal entry to record the disposal of the equipment.

149. A company had net sales of $789,765 and average assets of 658,137. Calculate the company's total asset turnover.

150. A company had net sales of $230,000 for 2010 and $288,000 for 2010. The company's average total assets for 2010 were $150,000 and $180,000 for 2010. Calculate the total asset turnover for each year and comment on the company's efficiency in the use of its assets.