acc557e9-9

Project Description:

e9-9. presented below are selected transactions at ridge company for 2015.

jan. 1 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 ridge's 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.
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