Shula Company had the following transactions in Year 3 : July 3 1 Sold a delivery truck
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Question:
Shula Company had the following transactions in Year :
July Sold a delivery truck for $ cash. The delivery truck originally cost $ and had accumulated depreciation of $ on December Year Depreciation is calculated on a decliningbalance basis using a rate of
August Equipment with a year useful life was purchased on January Year for $ and was sold for $ The equipment had been depreciated using the straightline method with an estimated residual value of $ Depreciation expense was last recorded on December Year
Required
Prepare the appropriate journal entries based on the details provided. Use months re your depreciation expense calculations. Please leave one empty row between each journal entry.
Related Book For
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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