E9-12 Presented below are selected transactions at Ingles Company for 2017. Jan. Retired a piece of machinery that was purchased on January 1. 2007. The machine cost £58,000 on that date. It had a useful life of 10 years with no residual value, Sold a computer that was purchased on January 1, 2014. The computer cost £40,000. It had a useful life of 5 years with no residual value. The computer 1 June 30 to was sold for £14,600. Discarded a delivery truck that was purchased on January 1, 2013. The truck cosi £34,000. It was depreciated based on a 6-year useful life with a £4,000 residual value. Dec. 31

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E9-12 Presented below are selected transactions at Ingles Company for 2017.
Retired a piece of machinery that was purchased on January 1, 2007. The machine
cost £58,000 on that date. It had a useful life of 10 years with no residual value.
Sold a computer that was purchased on January 1, 2014. The computer cost
£40,000. It had a useful life of 5 years with no residual value. The computer
Jan.
1
June 30
was sold for £14,600.
Discarded a delivery truck that was purchased on January 1, 2013. The truck
cosi £34,000. It was depreciated based on a 6-year useful life with a £4,000
residual value.
Dec. 31
Transcribed Image Text:E9-12 Presented below are selected transactions at Ingles Company for 2017. Retired a piece of machinery that was purchased on January 1, 2007. The machine cost £58,000 on that date. It had a useful life of 10 years with no residual value. Sold a computer that was purchased on January 1, 2014. The computer cost £40,000. It had a useful life of 5 years with no residual value. The computer Jan. 1 June 30 was sold for £14,600. Discarded a delivery truck that was purchased on January 1, 2013. The truck cosi £34,000. It was depreciated based on a 6-year useful life with a £4,000 residual value. Dec. 31
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