Chapter 18 Homework eBook Calculator 1. EX.18.02A.Algo Instructions General Journal 2. EX.18.04A. Algo Instructions 3. EX.18.06A.Algo Disposition of Assets: Journalizing Required: 4. PR. 18.11A. Guided. Algo 1. Prepare general journal entries for the transactions. If an amount box does not require an entry, leave it blank. Mitchell Parts Co. had the following plant asset transactions during the year: 1. Assets discarded or sold: Jan. 1 Motor #12, which had a cost of $2,690 and accumulated depreciation of $2,690, was discarded. 8 Motor #8, which had a cost of $4,230 and accumulated depreciation of $3,730, was sold for $330. 14 Motor #16, which had a cost of $5,560 and accumulated depreciation of $5,350, was sold for $510. 2. Assets exchanged or traded in: Motor #6, which had a cost of $5,970 and accumulated depreciation of $4,820, was traded in for a new motor (#22) with a fair market Feb. 1 value of $7,070. The old motor and $5,690 in cash were given for the new motor. Motor #9, which had a cost of $5,580 and accumulated depreciation of $5,080, was traded in for a new motor (#23) with a fair market 9 value of $6,650. The old motor and $6,330 in cash were given for the new motor. General Journal X 1. Prepare general journal entries for the transactions. If an amount box does not require an entry, leave it blank. Page: 1 DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- Jan. 1 Accumulated Depreciation-Motor #12 2 Motor #12 1 1 2 3 3 4 Jan. 8 Cash 4 5 Accumulated Depreciation-Motor #8 5 Loss on Sale of Motor #8 6 6 7 Motor #8 7 8 8 9 Jan. 14 Cash 9 10 Accumulated Depreciation-Motor #16 10 11 Motor #16 11 12 Gain on Sale of Motor #16 12 13 13 14 Feb. 1 Motor #22 (new) 14 Accumulated Depreciation-Motor #6 15 15 16 Motor #6 (old) 16 17 Cash 17 18 Gain on Exchange of Motor #6 11111 110 1111 111 18 19 19 20 Feb. 9 Motor #23 (new) 20 21 Accumulated Depreciation-Motor #9 21 22 Loss on Exchange of Motors 22 General Journal 1 20-- Jan. 1 Accumulated Depreciation-Motor #12 V 1 Motor #12 2 2 3 3 Cash 4 Jan. 8 4 Accumulated Depreciation-Motor #8 5 5 6 Loss on Sale of Motor #8 6 7 Motor #8 7 8 8 9 Jan. 14 Cash 9 10 Accumulated Depreciation-Motor #16 10 11 Motor #16 11 12 Gain on Sale of Motor #16 12 II IIII IIII I1011 11111 II IIII IIII II 11111 13 13 14 Feb. 1 Motor #22 (new) 14 15 Accumulated Depreciation-Motor #6 15 16 Motor #6 (old) 16 17 Cash 17 18 Gain on Exchange of Motor #6 18 19 19 20 Feb. 9 20 Motor #23 (new) Accumulated Depreciation-Motor #9 21 21 Loss on Exchange of Motors 22 22 Motor #9 (old) 23 23 Cash 24 24 Feedback