8 P Q 7

Yoshi Company completed the following transactions and events involving its delivery trucks. 2016 Jan. 1 Paid $22,015 cash plus $1,785 in sales tax for a new delivery truck estimated to have a five-year life and a $2,300 salvage Dec. 31 Recorded annual straight-line depreciation on the truck. 2017 value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Due to new information obtained earlier in the year, the truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,550. Recorded annual straight-line depreciation on the truck. 2018 Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,600 cash. Required 1-a. Calculate depreciation for year 2017. 1-b. Calculate book value and gain (loss) for sale of Truck on December, 2018. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10C Calculate depreciation for year 2017. Total cost Less accumulated depreciation (from 2016) Book value Less revised salvage value Remaining cost to be depreciated Years of life remaining Total depreciation for 2017 Required 1A Required 1B Required 1c Calculate book value and gain (loss) for sale of Truck on December, 2018 Depreciation expense (for 2016) Depreciation expense (for 2017) Depreciation expense (for 2018) Accumulated depreciation 12/31/2018 Book value of truck at 12/31/2018 Total cost Accumulated depreciation Book value 12/31/2018 Journal entry worksheet 4 Record the total cost of the new delivery truck. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2016 Journal entry worksheet 4 Record the year-end adjusting entry for the depreciation expense of the delivery truck. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2016 Journal entry worksheet 2 4 Record the year-end adjusting entry for the depreciation expense of the delivery truck. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2017 Journal entry worksheet 4 Record the year-end adjusting entry for the depreciation expense of the delivery truck Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2018 Journal entry worksheet 4 Record the sale of the delivery truck for $5,600 cash. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2018