Question: Sandhill Co . had the following assets on January 1 , 2 0 2 5 . During 2 0 2 5 , each of the
Sandhill Co had the following assets on January
During each of the assets was removed from service. The machinery was retired on January The forklift was sold on June
for $ The truck was discarded on December
Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The
company uses straightline depreciation. All depreciation was up to date as of December List all debit entries before credit
entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No
Entry" for the account titles and enter for the amounts.Date
Account Titles and Explanation
Debit
Credit
Accumulated DepreciationEquipment
Depreciation Expense
Accumulated DepreciationEquipment
To record depreciation expense on forklift
Accumulated DepreciationEquipment
Gain on Disposal of Plant Assets
To record sale of forkliftEquipment
To record sale of forklift
Accumulated DepreciationEquipment
To record depreciation expense on truck
Loss on Disposal of Plant Assets
To record disposal of truck

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