Danner Co.purchased a computer on January 1,2019,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 2021 and the sale of the computer on July 1,2021,for $1,000,000.

Question

Danner Co.purchased a computer on January 1,2019,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 2021 and the sale of the computer on July 1,2021,for $1,000,000.
Danner Co.purchased a computer on January 1,2019,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 2021 and the sale of the computer on July 1,2021,for $1,000,000.

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The Answer of Danner Co.purchased a computer on January 1,2019,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 2021 and the sale of the computer on July 1,2021,for $1,000,000.

Danner CoPurchased a Computer on January 1,2019,for $1,600,000