Star Wars, Inc. sold a used Star Destroyer to Chewbacca and Sons Co. for $30,100 cash. The original cost of the Star Destroyer was $200,000 with a salvage value of $25,000, a useful life of 10 years, and accumulated depreciation of $100,000 through the end of last fiscal year. Note: you will need to record 1/2's years depreciation for this year before recording the sale (the company policy is to depreciate assets for 1/2 year in the year of acquisition and disposal). Star Wars, Inc. uses the straight-line method to depreciate Star Destroyers. Note: record depreciation expense first, then the disposal.

On Dec. 28 Paid the A/P balance to Tattoine Inc from the 12/19 purchase. No discount applies.2w. On Dec. 28 The Board of Directors of Star Wars Inc. declares a $2.50 per share cash dividend to be paid in January of the next year. You will need to determine the number of shares outstanding. See instructions for the beginning amount and don't forget to take into account previous transactions involving new shares issued. Take the amount directly out of retained earnings.