Here are selected 2022 transactions of Bridgeport Company. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,500 and had a useful lit of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $39,300 and had a useful life of 5 year with no salvage value. The computer was sold for $15,400 cash. Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $42,900. It was depreciated base on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Bridgeport Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit ent before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entrie the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Here are selected 2022 transactions of Bridgeport Company. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,500 and had a useful lit of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $39,300 and had a useful life of 5 year with no salvage value. The computer was sold for $15,400 cash. Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $42,900. It was depreciated base on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Bridgeport Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit ent before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entrie the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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Description: Here are selected 2022 transactions of Bridgeport Company.Jan.1June 30Dec. 31Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,500 and had a useful lifeof 10 years with no salvage value.Sold a computer that was

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Here are selected 2022 transactions of Concord Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $61,900 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2020. The computer cost $35,800 and had a useful life of 4 years with no salvage value. The computer was sold for $4,300 cash. Dec. 31 Sold a delivery truck for $9,450 cash. The truck cost $23,800 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,300 salvage value. Journalize all entries required on the above dated , including to update depreciation on assets disposed of, where applicable. Use straight-line depreciation.