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WileyPLUS ? https://eduger.wileyplus.com/edugen/studentymainfruni agested Sites Bastball Tutorials Me Web Slice Gallery GobienoUSA-gew Careers and Career lr ? USAgov ? CenterPoint Energy-Charles Schwab ?CreditFirst National, ? Didam" #Ding Testson CareerUSAgeCentrPin Weygandt, Financial Accounting, 10e PRINCIPLES OF ACCOUNTING I (FIN MESSAGEMYINSTRUCTOR STANDARD V?EW RMEREision. Exercise 9-9 Presented below are selected transactions at Splish Brothers Inc. for 2019. that was purchased on January 1, 2009. The machine cost $63,800 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, 2016. The com Dec. 31 Discarded a delivery truck that was purchased on January 1, 2015. The truck cost s40,620. It was degreciated based on a 6 year useful life with a $3,000 salvage puter cost $37,800. It had a useful life of 5 years with no salvage value. The computer was sold for $15,100. Journalize all entries required on the above dates, induding entries to update depreciation account titles are automatically indented when amount is entered. indent t n, where applicable, on assets disposed of. Splish Brothers Inc. uses straight line depreciation. (Assume depreciation is up to date as of December 31, 2016.) (Cred Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account tites and enter 0 for the amounts. Do not round intermediate calculations.) Date Account Titles and Explanation Debit Credit (To record depreciation to date of disposal) une 30 (To record sale of computer) (To record depreciatian to date of disposal) Dec. 31 CTo record retirement of truck) SA." ,CRLA,r, Question Attempts: ? of J usetExplanation / Answer
Date General Journal Debit Credit 01-Jan Accumulated Depreciation—Equipment 63800 Equipment 63800 30-Jun Depreciation Expense 3780 Accumulated Depreciation—Equipment 3780 37800*1/5*6/12 Cash 15100 Accumulated Depreciation—Equipment ($37800 x 3/5 = 22680; 22680 + 3780) 26460 26460 Gain on Disposal of Plant Assets 15100-(37800-26460) 3760 Equipment 37800 31-Dec Depreciation Expense 6270 Accumulated Depreciation—Equipment 6270 (40620-3000)/6 31-Dec Loss on Disposal of Plant Assets 9270 Accumulated Depreciation—Equipment 31350 Equipment 40620 (40620-3000)*5/6
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