2010
Jan. 9. Purchased a used delivery truck for $30,000, paying cash.
Mar. 17. Paid garage $400 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck.
Dec. 31. Recorded depreciation on the truck for the year. The estimated useful life of the truck is 4 years, with a residual value of $6,000 for the truck.


2011
Jan. 2. Purchased a new truck for $48,000, paying cash.
Aug. 1. Sold the used truck for $12,500. (Record depreciation to date in 2011 for the truck.)
Sept. 23. Paid garage $325 to tune the engine and make other minor repairs on the used truck.
Dec. 31. Record depreciation for the new truck. It has an estimated residual value of $11,000 and an estimated life of 5 years.


2012
July 1. Purchased a new truck for $52,000, paying cash.
Oct. 2. Sold the truck purchased January 2, 2011, for $17,000. (Record depreciation for the year.)
Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $14,000 and an estimated useful life of 8 years

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2010:
Jan 9
DR Truck 30,000
CR Cash 30,000

Mar 17
DR Maintenance expense - truck 400
CR Cash 400

Dec 31
DR Dep.expense ???
CR Accumulated depr - Truck ???

2011
Jan 2
DR truck 48,000
CR cash 48,000

Aug 1
DR depr.exp. ???
CR accumulated depr. - truck ???
Aug 1
DR Cash 12,500
DR Accum.depr - truck ???
CR Gain on Sale of Delivery equip ????
CR Truck 30,000


Sept 23
DR maintenance expense 325
CR cash 325

Dec 31
DR Depr exp ????
CR accumulated depreciation ???


2012
Jul 1
DR Truck 52,000
CR Cash 52,000

Oct 2
DR depreciation exp. ???
CR accumulated depr. ???

Oct 2
DR Cash 17,000
DR Accumulated depreciation ???
DR Loss on sale ???
CR Truck 48,000

Dec 31
DR depr. exp. ???
CR acc.depr - truck ???