Question: Need help fixing June 30th answer. Thank you! - Your answer is partially correct. Here are selected 2022 transactions of Bramble Corp.. Jan. 1 Retired
Need help fixing June 30th answer. Thank you!
- Your answer is partially correct. Here are selected 2022 transactions of Bramble Corp.. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $ 64,300 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2020. The computer cost $ 42,300 and had a useful life of 3 years with no salvage value. The computer was sold for $ 6,200 cash. Dec. 31 Sold a delivery truck for $10,000 cash. The truck cost $ 35,500 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Bramble Corp. uses straight-line depreciation (Assume depreciation is up to date as of December 31, 2021). (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Do not round intermediate calculations.) Date Account Titles and Explanation Debit Credit Jan. 1 Accumulated Depreciation-Equipment 64,300 Equipment 64,300 June 30 Depreciation Expense 697.950 Accumulated Depreciation Equipment 697.950 (To record depreciation to date of disposal)
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