(a)- Ford Company purchased equipment in 2010 for $150,000 and estimated a $10,000 salvage value at the end of the equipment's 10-year useful life. At December 31, 2016, there was $98,000 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2017, the equipment was sold for $40,000. Prepare the appropriate journal entries to remove the equipment from the books of Ford Company on March 31, 2017.

(a)- Ford Company purchased equipment in 2010 for $150,000 and estimated a $10,000 salvage value at the end of the equipment's 10-year useful life. At December 31, 2016, there was $98,000 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2017, the equipment was sold for $40,000. Prepare the appropriate journal entries to remove the equipment from the books of Ford Company on March 31, 2017.

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Description: محاسبة 2- الواجب الثالثQ1- (a)- Ford Company purchased equipment in 2010 for$150,000 and estimated a $10,000 salvage value at the end ofthe equipment's 10-year useful life. At December 31, 2016,there was $98,000 in the Accumulated Depreciation accou

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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