Use the plant asset records from Application Problem 8-4. Mannings, Inc., completed the following transactions.

Use the appropriate plant asset records from Application Problem 8-4 for additional information needed. Use page 1 of a general journal, page 6 of a cash receipts journal, and page 12 of ac ash payments journal. Source documents are abbreviated as follows: check, C; memorandum, M; receipt, R.

Instructions:
1. For each transaction in 20X5, do the following.

a. Journalize an entry for additional depreciation if needed.

b. Journalize the disposal of the plant asset.

c. Make appropriate notations in the plant asset record.
2. Complete each plant asset record for the year.
3. Repeat instructions 1 and 2 for 20X6.

Data from Problem 8-4

Use the plant asset records from Application Problem 8-1 and the depreciation tables from Application Problem 8-3.

Data from Problem 8-3

Use the plant asset record from Application Problem 8-1. Using the straight-line method, complete a depreciation table for each of the plant assets bought by Mannings, Inc.

Data from Problem 8-1

Mannings, Inc. uses three plant asset accounts: Office Equipment, Store Equipment, and Warehouse Equipment.

Transcribed Image Text:

Transactions: Jan. 21, 20X5. An office word processor, plant asset no. 2, was no longer being used. It was discarded. M522. Jan. 28, 20X5. Discarded office file cabinet, plant asset no. 1. M523. Mar. 29, 20X6. Received cash for sale of hand truck, $10.00, plant asset no. 3. M575 and R645. Dec. 31, 20X6. Received cash for sale of store shelving, $250.00, plant asset no. 5. M631 and R733. Dec. 31, 20X6. Paid $8,000.00 in cash plus old truck, plant asset no. 4, for new truck, plant asset no. 29. M632 and C815.