Kame West touldntini Postings XV Villanova University *Ya Wileyptus mure | https

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Kame West touldntini Postings XV Villanova University *Ya Wileyptus mure | https//edugen.wileyplus.com/edugen/student/mainfruni * C Chuggy Steely Guided * WURCES ments tLevel CALCULATOR MESSAGE HY INSTRUCTOR FUEL SCHIEN PRINTER VERSION BACK NEXT Jan. 1 Retired a piece of machinery that was purchased on January 1, 2005. The machine cost $63,550 on that date. It had a useful life of 10 year with salvage value. June 30 sold a computer that was purchased on January 1, 2012. The computer cost $35,320. It had a useful life of 5 years with no salvage value. The computer was said for $13,190. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2011. The truck cost $43,790. It was depreciated based on a 6year useful life with a $2,030 salvage value. art Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Ridge Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2014.) (If no entry is required, select "No entry" for the account titler and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) a Debit Credit Date Account Titles and Explanation Jan. 1 June 30 (To record depreciation to date of disposal) June 30 (To record sale of computer at a gain/loss) Dec. 31 | Privacy Policy o 2000 - 2017 John Wiley & Sons, Inc, All Rights Reserved. A Division of John Wiley & Sons, Inc. version4.24.24 421 PM * AE 04 1112/2017 ere to search o e a

Explanation / Answer

Date Account titles & Explanations Debit Credit 1-Jan Accumulated depreciation 63,550 Machinery 63,550 30-Jun Depreciation expense 3532 Accumulated depreciation 3,532 (35,320/5)*6/12 30-Jun Cash 13,190 Accumulated depreciation 24724 (7064*3 + 3,532) Gain on sale 2594 computer 35,320 31-Dec Depreciation expense 6960 Accumulated depreciation 6,960 (43790-2030)/6 Accumulated depreciation (6960*5) 34800 loss on disposal 8,990 Truck 43,790

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