Here are selected 2022 transactions of Pina Corporation. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $61,000 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 $35,200 and had a useful life of 4 years with no salvage value. The computer was sold for $5,100 cash. Sold a delivery truck for $9,400 cash. The truck cost $23,300 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,800 salvages value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pina Corporation uses straight-line depreciation. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Here are selected 2022 transactions of Pina Corporation. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $61,000 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 $35,200 and had a useful life of 4 years with no salvage value. The computer was sold for $5,100 cash. Sold a delivery truck for $9,400 cash. The truck cost $23,300 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,800 salvages value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pina Corporation uses straight-line depreciation. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. 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 Pina Corporation.Jan. 1June 30Dec. 31Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $61,000 and had a useful life of 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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