Correcting errors relating to noncurrent assets The following errors were discovered in the books of the Tribute Company during the current year, before the books were closed as at 31 December.

1 Depreciation of $2140 relating to machinery was incorrectly credited to the accumulated depreciation –

buildings account.

2 A machine with a cost of $22 500 and accumulated depreciation to the date of sale of $16 000 was sold for

$8000. The sale was recorded by debiting the cash at bank account and crediting the machinery account for $8000.

3 The cost of delivery equipment purchased on 1 July for $7900 was debited to the purchases account. The equipment has a useful life of four years and estimated residual value of $900. Straight-line depreciation is used for delivery equipment.

4 The cost of installing lighting in the company car park ($12 000) was charged to the maintenance expense account on 4 January, the date of purchase. The lights have a useful life of eight years and no residual value. Assume straight-line depreciation.

Prepare general journal entries to correct the errors (if there are any).