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Pryce company owns equipment that cost 52350 when purchased

Question - Pryce Company owns equipment that cost $52,350 when purchased on January 1, 2012. It has been depreciated using the straight-line method based on estimated salvage value of $4,000 and an estimated useful life of 5 years.

Prepare Pryce Company's journal entries to record the sale of equipment in these four independent situations.

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Accounting Basics: Pryce company owns equipment that cost 52350 when purchased

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Accounting Basics: Pryce company owns equipment that cost 52350 when purchased

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