Chapter Homework ebook Calcu Transactions for Fixed Assets, including Sale The following transactions and adjusting entries were completed by Robinson Furniture Coduring a three-year period. All are related to the use of every equipment. The double-decireng-balance method of deprecated Year 1 Jan B. Purchased a used delivery truck for $61.440, paying cash Mar. 7. Pald garage $120 for changing the oil, replacing the liter, and tuning the engine on the delivery truck Dec. 31. Recorded depreciation on the truck for the fiscal year. The estimated useful le of the truck is 3 years, with a residuale of $12,000 for the truck Year 2 Jan. 9. Purchased a new truck for $70,560, paying cash Feb. 28. Paid garage $350 to tune the engine and make other minor repairs on the wed truck Apr 30. Sold the used truck for $40,440. (Record depreciation to date in Year 2 for the truck) Dec 31 Record depreciation for the new truck. It has an estimated trade-in value of 2.700 and an estimated We of 7 years Year Sept. 1. Purchased a new truck for $88,000, paying cash. Sept. 4. Sold the truck purchased January 9, Year 2 for $42,000. (Record deprecation to date in Year for the truck) Dec. 31. Recorded depreciation on the remaining truck. It has an estimated real value of 515.800 and an estimated for 10 years Required: Jou the transactions and the dusting entries an amount box does not require an entry leave take no round record your heart Year 2 Feb 28 1.1.1.1.1.1..... I ll I O WII I III Apr 30 Deprec Apr 30-Sale Previous Chapter 9 - Homework Calcu Dec 31 Year 3 Scott DI DU HII 1 03 Sept. 4-Depec Sept. 4-Sale Dec. 31 Feed The following transactions and adjusting entries were completed by Robinson furniture during a three weered to the use of every in the dece of Year Jan. 8. Purchased a used Olivery truck for $61,440.png cash Mar. 7. Paid garage $120 for changing the replacing the other, and tuning the engine on the delivery truck Dec. 31. Recorded depreciation on the truck for the focal year. The estimated te of the truck is 8 years, with a residual value of $13,000 for the truck Year 2 Jan. 9. Purchased a new truck for $70,560, paying cash Feb. 28. Poid garage 380 to tune the engine and make other minor repairs on the used truck Apr 30. Sold the used truck for $40,440 Record depreciation to date in Year 2 for the truck.) Dec. 31. Record depreciation for the new truck. It has an estimated trade-in value of $12,700 and an estimated We of years. Year Sept. 1. Purchased a new truck for $80,000, paying cash Sept. 4. Sold the truck purchased January 9, Year 2 for $42.900. (Record depreciation to date in year for the truck) Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $15,800 and an estimated sale of 10 years. Required: Journal the transactions and the adjusting entries an amount box does not require an entry. Loretak. Do not round termediate actions. Round your firal answers to the nearest cert Year 1 ano M
