Question: Please is the second time I post thid quiestion help please. First time link https://www.chegg.com/homework-help/questions-and-answers/check-work-c-1-lving-strategy-following-transactions-adjusting-entries-dosing-entries-corm-q22812465 Transactions for Fixed Assets, Induding Sale The following transactions, adjusting




Please is the second time I post thid quiestion help please. First time link https://www.chegg.com/homework-help/questions-and-answers/check-work-c-1-lving-strategy-following-transactions-adjusting-entries-dosing-entries-corm-q22812465
Transactions for Fixed Assets, Induding Sale The following transactions, adjusting entries, and closing entries were completed by King Furniture Co. during a three-year period. All are related to the use of delivery equipment. The 2012 Jan. 4. Purchased a used delivery truck for $61.440, paying cash. Feb. 24. Paid garage $170 for changing the oil, repladino the oil filter, and tuning the engine on the delivery truck. Dec. 31. Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is 8 years, with a residual value of $12,900 for the truck an. 3, Purchased a new truck for $70,560, paying cash Mar. 7. Paid garage $290 to tune the enigine and make other minor repairs on the used truck Apr. 30. Sald the used truck for $40,440. (Record depreciation to date in 2013 for the truck.) Dec. 31. Record depreciation for the new truck. It has an estimated trade-in value of $12,700 and an estimated life of 7 years. 2014 July 1. Purchased a new truck for $B2,000, paying cash. Oct. 7. Sold the truck purchased January 3, 2013, for $41.700. (Record depreciation to date in 2014 for the truck.) Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $14,800 and an estimated useful life of 10 years Required
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