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2. Make journal entries or answer the question for the following dates and events.
1) On January 1, 2010, Hampton purchased equipment by cash at a cost of $420,000. The
equipment has a 10 year life and an expected salvage value at the end of 10 years of
$20,000.
2) On December 31, 2010, the company recorded depreciation expense for the equipment
during 2010 using the straight-line depreciation method with regard to time.
3) What is the total amount of accumulated depreciation on December 31, 2011? (no journal
entry is needed)
4) On January 1, 2012, Hampton sold the equipment for $350,000 cash.
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Explanation & Answer
Attached.
1. DR:
CR:
Equipment a/c
420,000
cash a/c
420,000
2. Depreciation workings
(420,000-20,000)/10 ...
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Read case 6 in your text: Expatriate Compensation at Robert Bosch GMBH: Coping with Modern Mobility Challenges (pp. 312-318).Answer the questions 6 and 7 on p. 317 with 2 pages, one page for each question is the best.6 Do you believe that alternative assignments can
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