Here are selected 2022 transactions of Pina Colada Corp.. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,600 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 $36,900 and had a useful life of 3 years with no salvage value. The computer was sold for $5,900 cash. June 30 Sold a delivery truck for $9,000 cash. The truck cost $32,300 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,000 salvage value. Dec. 31 Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pina Colada Corp. uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021). (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Do not round

Here are selected 2022 transactions of Pina Colada Corp.. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,600 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 $36,900 and had a useful life of 3 years with no salvage value. The computer was sold for $5,900 cash. June 30 Sold a delivery truck for $9,000 cash. The truck cost $32,300 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,000 salvage value. Dec. 31 Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pina Colada Corp. uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021). (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Do not round

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Description: Here are selected 2022 transactions of Pina Colada Corp..Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,600 and had a useful lifeof 10 years with no salvage value.Jan.1Sold a computer that was purchased on J

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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