Here are selected 2022 transactions of Sarasota Company. Jan. 1 June -30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $60,300 and had a useful life of 10 years with no salvage value. Date Sold a computer that was purchased on January 1, 2019. The computer cost $45,000 and had a useful life of 5 years with no salvage value. The computer was sold for $15,100 cash. Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $41,940. It was depreciated based 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. Sarasota Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. 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 O for the amounts.) Account Titles and Explanation Debit Credit F

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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cation.wiley.com/was/u/2/assessment-player/index.html?launchid=224b70b7-1b94-43ae-b336-3b8651474636#/question/3
mapter 10
Question 4 of 7
Jan.
1
Here are selected 2022 transactions of Sarasota Company.
June -30
Dec. 31
<
>
Date
w Question 4 of 7 - Homewor
Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $60,300 and had a useful life
of 10 years with no salvage value.
Sold a computer that was purchased on January 1, 2019. The computer cost $45,000 and had a useful life of 5 years
with no salvage value. The computer was sold for $15,100 cash.
Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $41,940. It was depreciated based
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.
Sarasota Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries
before credit entries. 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 O for the amounts.)
Account Titles and Explanation
FEB 1
6/12
19
tv
Debit
Mon 6:02 PM
Credit
SUPPO
Transcribed Image Text:cation.wiley.com/was/u/2/assessment-player/index.html?launchid=224b70b7-1b94-43ae-b336-3b8651474636#/question/3 mapter 10 Question 4 of 7 Jan. 1 Here are selected 2022 transactions of Sarasota Company. June -30 Dec. 31 < > Date w Question 4 of 7 - Homewor Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $60,300 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $45,000 and had a useful life of 5 years with no salvage value. The computer was sold for $15,100 cash. Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $41,940. It was depreciated based 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. Sarasota Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. 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 O for the amounts.) Account Titles and Explanation FEB 1 6/12 19 tv Debit Mon 6:02 PM Credit SUPPO
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