Presented below are selected transactions at Ridge Company for 2015 Retired a piece of machinery that was purchased on January 1, 2005. The machine cost $62,000 on that date. It had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2012. The computer cost $45,000. It had a useful life of 5 years with no salvage value. The computer was sold for $14,000. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2011. The truck cost $33,000. It was depreciated based on a 6-year useful life with a $3,000 salvage value.
Instructions Prepare Pryce Company’s journal entries to record the sale of the equipment in these four independent situations. a) Sold for $31,000 on January 1, 2015. b) Sold for $31,000 on May 1, 2015. c) Sold for $11,000 on January 1, 2015. d) Sold for $11,000 on October 1, 2015
Click here to order this paper @Essaybay.net. The Ultimate Custom Paper Writing Service
No comments:
Post a Comment