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Ivanhoe Company owns equipment that cost $63,000 when purchased on January 1, 2019. It has been depreciated using...

Question:

Ivanhoe Company owns equipment that cost $63,000 when purchased on January 1, 2019. It has been depreciated using the straigh
No. Account Titles and Explanation Debit (To record depreciation)
Chapter X 666ssignments/27604 module item id-9337080 (To record sale of equipment) c) (To record depreciation)
Ivanhoe Company owns equipment that cost $63,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $3,000 and an estimated useful life of 5 years. Prepare Ivanhoe Company's journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) (a) Sold for $29,000 on January 1, 2022. (b) Sold for $29,000 on May 1, 2022 (c) Sold for $9,000 on January 1, 2022. (d) Sold for $9,000 on October 1, 2022
No. Account Titles and Explanation Debit (To record depreciation)
Chapter X 666ssignments/27604 module item id-9337080 (To record sale of equipment) c) (To record depreciation)

Answers

solution S.NO General Journal Debit Gedet cash 29000 36000 63000 Acumulated depreciation (1000 x 36 monthe) Equipment Garn on

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