On April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2006. The equipment had a residual 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.

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The Answer of On April 1, 2010, a company disposed of equipment for $14,200 cash that had cost $35,000 on January 1, 2006. The equipment had a residual 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.

On April 1, 2010, a Company Disposed of Equipment for $14,200