Problem 10-5A Computing and revising depreciation; selling plant assets LO C2, P1, P2

Yoshi Company completed the following transactions and events involving its delivery trucks.

2014
Jan.	1	Paid $22,015 cash plus $1,935 in sales tax for a new delivery truck estimated to have a five-year life and a $2,150 salvage value. Delivery truck costs are recorded in the Trucks account.
Dec.	31	Recorded annual straight-line depreciation on the truck.

2015
Dec.	31	Due to new information obtained earlier in the year, the trucks 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.

2016
Dec.	31	Recorded annual straight-line depreciation on the truck.
Dec.	31	Sold the truck for $5,400 cash.

Required:

Calculate depreciation for year 2015.

need:

Total cost.....?

less acumlated depreication (from2014)....?

book value..?

less revised salvage vaule..?

years of life remaining...?

total depreciation for 2015....?

also, need:

Calculate book value and gain (loss) for sale of Truck on December, 2016.

deprecation expense for (2014) & (2015) & (2016)....?

accumlutated deprecation 12/31/2016......?

book value of at 12/31/2016.......?

total cost......?

accumlated deprecation ?

book value 12/31/2016.....?

and...

1.

Record the total cost of the new delivery truck.

2.

Record the year-end adjusting entry for the depreciation expense of the delivery truck.

3.

Record the year-end adjusting entry for the depreciation expense of the delivery truck.

4.

Record the year-end adjusting entry for the depreciation expense of the delivery truck.

5.

Record the sale of the delivery truck for $5,400 cash.