Question: 5.5 Simulation Five i Saved Help Save & Exit Submit Check my work 10 Yoshi Company completed the following transactions and events involving its delivery

5.5 Simulation Five i Saved Help Save & Exit
5.5 Simulation Five i Saved Help Save & Exit Submit Check my work 10 Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $20,515 cash plus $1, 635 in sales tax for a new delivery truck estimated to have a five-year life and a $2, 300 6.73 salvage value. Delivery truck costs are recorded in the Trucks account. points December 31 Recorded annual straight-line depreciation on the truck. Year 2 December 31 The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,700. Recorded annual straight-line depreciation on the truck. Book Year 3 December 31 Recorded annual straight-line depreciation on the truck. References December 31 Sold the truck for $5, 300 cash. Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Calculate depreciation for Year 2. Total cost $ 22, 150 Less accumulated depreciation (from Year 1) 3,970 Book value 18,180 Less revised salvage value 2,700 Remaining cost to be depreciated 21,475 Years of life remaining Total depreciation for Year 2 $ 7,158 Required 1A Required 1B >

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