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Can you check my answers, please? Idk what is wrong... Here are selected 2017 transactions of Indigo Corporation. Jan. 1 Retired a piece of machinery
Can you check my answers, please? Idk what is wrong...
Here are selected 2017 transactions of Indigo Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $61,800 and had a useful life of 10 years with no salvage value. June Sold a computer that was purchased on January 1,2015 . The computer cost $37,000 and had a useful life of 4 years with 30 no salvage value. The computer was sold for $4,000 cash. Dec. Sold a delivery truck for $9,380 cash. The truck cost $23,600 when it was purchased on January 1,2014 , and was 31 depreciated based on a 5-year useful life with a $3,200 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Indigo Corporation uses straight-line depreciation. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (To record depreciation expense for 2017) Accumulated Depreciation-Equipment 32375 Loss on Disposal of Plant Assets 625 Cash 4000 Equipment 37000 (To record sale of computer) Depreciation Expense 4080 Accumulated Depreciation-Equipment 4080 (To record depreciation expense for 2017) Cash 9380 Accumulated Depreciation-Equipment 16320 Equipment 23600 (To record sale of delivery truck)Step by Step Solution
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