Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2017. The machine cost $64,500 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2025. The computer cost $39,900 and had a useful life of 3 years with no salvage value. The computer was sold for $5,200 cash. Sold a delivery truck for $9,000 cash. The truck cost $29,650 when it was purchased on January 1, 2024, 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. Cullumber Corporation uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2026). (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Jan. 1 く Accumulated Depreciation-Machine June 30 く June 30 Machine Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation to date of disposal) Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Debit Credit SUPPORT
Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2017. The machine cost $64,500 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2025. The computer cost $39,900 and had a useful life of 3 years with no salvage value. The computer was sold for $5,200 cash. Sold a delivery truck for $9,000 cash. The truck cost $29,650 when it was purchased on January 1, 2024, 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. Cullumber Corporation uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2026). (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Jan. 1 く Accumulated Depreciation-Machine June 30 く June 30 Machine Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation to date of disposal) Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Debit Credit SUPPORT
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
un.8
answr must be in table format or i will give down vote
Transcribed Image Text:Jan.
1
June 30
Dec. 31
Retired a piece of machinery that was purchased on January 1, 2017. The machine cost $64,500 and had a useful life of 10 years with no salvage value.
Sold a computer that was purchased on January 1, 2025. The computer cost $39,900 and had a useful life of 3 years with no salvage value. The computer was sold for
$5,200 cash.
Sold a delivery truck for $9,000 cash. The truck cost $29,650 when it was purchased on January 1, 2024, 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. Cullumber Corporation uses straight-line depreciation.
(Assume depreciation is up to date as of December 31, 2026). (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)
Date
Account Titles and Explanation
Jan. 1 く
Accumulated Depreciation-Machine
June 30 く
June 30
Machine
Depreciation Expense
Accumulated Depreciation-Equipment
(To record depreciation to date of disposal)
Accumulated Depreciation-Equipment
Loss on Disposal of Plant Assets
Debit
Credit
SUPPORT
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