Presented below are selected at Ridge Company for 2019 an. 1 Retired a piece of

Question

Presented below are selected at Ridge Company for 2019 an. 1 Retired a piece of machinery that was purchased on January 1, 2009. The machine cost $62,000 on that date. It had a useful life of 10 years with no salvage 2009. The June 30 Sold a sold for $14,000 January 1, 2016. The computer cost $45,000. It had a useful life of 5 years with no salvage value. a delivery truck that was purchased on January 1, 2015. The truck cost $33,000. It was depreciated based on a 6-year usefu salvage value. up to date as of December 31, 2018.) (Credit account titles are automatically indented when amount is ent entries in the order presented in the problem. If no entry is required, select for the amounts. Do not round intermediate calculations.) "No Entry" for the account titles and enter o ered. Do not June 30 F6

Explanation / Answer

1.

Journal entry

2.

Journal entry

3.

Journal entry

Cost of the machine $   62,000 Life of machine 10 years number of years used 10 Years Accumulated depreciation ($62,000/10*10) $   62,000

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