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Everything is right except the year 2 and 3 depreciation and the last parts depreciation. Thanks Accounting for Plant Assets Stellar Delivery Service had the
Everything is right except the year 2 and 3 depreciation and the last parts depreciation. Thanks
Accounting for Plant Assets Stellar Delivery Service had the following transactions related to its delivery truck: Year 1 Mar. 1 Purchased for $65,000 cash a new delivery truck with an estimated useful life of five years and a $13,700 salvage value. Mar. 2 Paid $1.200 for painting che company name and logo on the truck. Dec. 31 Recorded depreciation on the truck for the year Year 2 July1 Installed air conditioning in the truck at a cost of $3,616 cash. Although the truck's estimated useful life was unaffected, its estimated salvage value was increased by $800 Sept 7 Paid $450 for truck tune-up and safety inspection. Dec. 31 Recorded depreciation on the truck for the year Year 3 Sept 3 Dec. 31 Installed a set of front and rear bumper guards at a cost of $145 cash. Recorded depreciation on the truck for the year. Year 4 Dec. 31 Recorded depreciation on the truck for the year Stellar's depreciation policies include (1) using straight-line depreciation, (2) recording depreciation to the nearest whole month, and (3) expensing all truck expenditures of $150 or less. Required Prepare journal entries to record these transactions and adjustment:s Round answers to the nearest whole number, when appropriateStep by Step Solution
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