On July 1,Harding Construction purchases a bulldozer for $228,000.The equipment has a 8-year life with a residual value of $16,000.Harding uses straight-line depreciation.
(a)Calculate the depreciation expense and provide the journal entry for the first year ending December 31.
(b)Calculate the third year's depreciation expense and provide the journal entry for the third year ending
December 31.
(c)Calculate the last year's depreciation expense and provide the journal entry for the last year.

Question

On July 1,Harding Construction purchases a bulldozer for $228,000.The equipment has a 8-year life with a residual value of $16,000.Harding uses straight-line depreciation.
​(a)Calculate the depreciation expense and provide the journal entry for the first year ending December 31.
​(b)Calculate the third year's depreciation expense and provide the journal entry for the third year ending
December 31.
​(c)Calculate the last year's depreciation expense and provide the journal entry for the last year.

Quizplus · Accepted Answer

The Answer of On July 1,Harding Construction purchases a bulldozer for $228,000.The equipment has a 8-year life with a residual value of $16,000.Harding uses straight-line depreciation.
​(a)Calculate the depreciation expense and provide the journal entry for the first year ending December 31.
​(b)Calculate the third year's depreciation expense and provide the journal entry for the third year ending
December 31.
​(c)Calculate the last year's depreciation expense and provide the journal entry for the last year.

On July 1,Harding Construction Purchases a Bulldozer for $228,000