Presented below are selected transactions at Metlock Company for 2017. Jan. 1 Retired a piece of...

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Presented below are selected transactions at Metlock Company for 2017. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost £62,600 on that date. It had a useful life of 10 years with no residual value. June 30 Sold a computer that was purchased on January 1, 2014. The computer cost £36,010. It had a useful life of 5 years with no residual value. The computer was sold for £15,860. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2013. The truck cost 42,160. It was depreciated based on a 6-year useful life with a £3,220 residual value. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Metlock Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2016.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit B Accumulated Depreciation- 62,600 C Equipment 62,600 X Depreciation Expense x (To record depreciation) Cash Jan. 1 June 30 v June. 30 سل قل إلى الأعداء 15,860 X Presented below are selected transactions at Metlock Company for 2017. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost £62,600 on that date. It had a useful life of 10 years with no residual value. June 30 Sold a computer that was purchased on January 1, 2014. The computer cost £36,010. It had a useful life of 5 years with no residual value. The computer was sold for £15,860. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2013. The truck cost 42,160. It was depreciated based on a 6-year useful life with a £3,220 residual value. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Metlock Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2016.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit B Accumulated Depreciation- 62,600 C Equipment 62,600 X Depreciation Expense x (To record depreciation) Cash Jan. 1 June 30 v June. 30 سل قل إلى الأعداء 15,860 X

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Journal Entry 1 Date Particulars Amount Dr Amount Cr Jan 1 2017 Accumulated Depreciation 62600 To ma... View the full answer