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Depreciation expense for autos and trucks was: The XYZ Corp began business during the year 1 9 8 6 . The following information was made
Depreciation expense for autos and trucks was:
The XYZ Corp began business during the year The following information was made available from the Corporations records on Dec
Cash receipts to
Cash received on sales during the year
Cash received as scrap value of dismantled building
Cash disbursements
Merchandise purchased
Paid to trade creditors
Cash paid on autostrucks purchased
Furniturefixtures purchased
Purchase of land
Cost of dismantling building on above land
Salaries
Real estate taxes
Light and heat
Prepaid insurance
Office expense
Maintenance office equipment
Office supplies
General information
Due to trade creditors at
Inventory at
Due to trade customers at
A note of $ and due was given as part payment for autos and trucks. Autostrucks are estimated to have a useful life of years and salvage value of Depreciation is computed on straight line basis.
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