Equipment acquired on January 6 at a cost of $335,190, has an estimated useful life of 13 years and an estimated residual value of $68,690. A. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? B. What was the book value of the equipment on January 1 of Year 4? C. Assuming that the equipment was sold on January 3 of Year 4 for $256,655, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles. D. Assuming that the equipment had been sold on January 3 of Year 4 for $287,515 instead of $256,655, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles.

Equipment acquired on January 6 at a cost of $335,190, has an estimated useful life of 13 years and an estimated residual value of $68,690. A. What was the annual amount of depreciation for the Years...

Equipment acquired on January 6 at a cost of $335,190, has an estimated useful life of 13 years and an estimated residual value of $68,690.

A.	What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation?
B.	What was the book value of the equipment on January 1 of Year 4?
C.	Assuming that the equipment was sold on January 3 of Year 4 for $256,655, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles.
D.	Assuming that the equipment had been sold on January 3 of Year 4 for $287,515 instead of $256,655, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles.

Jun 09, 2022