Here are selected 2022 transactions of Marigold Corp.. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,000 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2020. The computer cost $39,600 and had a useful life of 3 years with no salvage value. The computer was sold for $5,600 cash. Sold a delivery truck for $9,000 cash. The truck cost $29,100 when it was purchased on January 1, 2019, and was depreciated based on a 5-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. Marigold Corp. uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021). (Credit account titles

Here are selected 2022 transactions of Marigold Corp.. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,000 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2020. The computer cost $39,600 and had a useful life of 3 years with no salvage value. The computer was sold for $5,600 cash. Sold a delivery truck for $9,000 cash. The truck cost $29,100 when it was purchased on January 1, 2019, and was depreciated based on a 5-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. Marigold Corp. uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021). (Credit account titles

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Description: Here are selected 2022 transactions of Marigold Corp..Jan.1June 30Dec. 31Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,000 and had a useful lifeof 10 years with no salvage value.Sold a computer that was pur

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter10: Long-lived Tangible And Intangible Assets

Section: Chapter Questions

Problem 21E

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