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  • During 2016 Dora Company Completed The Following Transactions Jan 1 Traded

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    hassan taimour
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    Dora Company completed several transactions in 2016, including trading in old office equipment valued at $55,000 for new equipment worth $163,000 which they paid $100,000 in cash for. They also sold equipment they had purchased for $54,000 for $6,300 in cash. Dora recorded depreciation on their office equipment and assets.

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    During 2016 Dora Company Completed the Following Transactions Jan 1 Traded

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    Dora Company completed several transactions in 2016, including trading in old office equipment valued at $55,000 for new equipment worth $163,000 which they paid $100,000 in cash for. They also sold equipment they had purchased for $54,000 for $6,300 in cash. Dora recorded depreciation on their office equipment and assets.

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    © All Rights Reserved
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    23 views1 page

    During 2016 Dora Company Completed The Following Transactions Jan 1 Traded

    Uploaded by

    hassan taimour
    Dora Company completed several transactions in 2016, including trading in old office equipment valued at $55,000 for new equipment worth $163,000 which they paid $100,000 in cash for. They also sold equipment they had purchased for $54,000 for $6,300 in cash. Dora recorded depreciation on their office equipment and assets.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    During 2016 Dora Company completed the following

    transactions Jan 1 Traded #430


    During 2016, Dora Company completed the following transactions:Jan. 1 Traded in old office
    equipment with book value of $55,000 (cost of $124,000 and accumulated depreciation of
    $69,000) for new equipment. Dora also paid $100,000 in cash. Fair value of new equipment is
    $163,000. Assume the exchange had commercial substance.Apr. 1 Sold equipment that cost
    $54,000 (accumulated depreciation of $42,000 through December 31 of the preceding year).
    Dora received $6,300 cash from the sale of the equipment. Depreciation is computed on a
    straight-line basis. The equipment has a five-year useful life and a residual value of $0.Dec. 31
    Recorded depreciation as follows:Office equipment is depreciated using the double-declining-
    balance method over four years with a $7,000 residual value.Record the transactions in the
    journal of Dora Company.View Solution:
    During 2016 Dora Company completed the following transactions Jan 1 Traded

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