Exercise 10-9

Presented below are selected transactions at Ridge Company for 2014.

Jan.1

Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $63,810 on that date. It had a useful life of10 years with no salvage value.

June30

Sold a computer that was purchased on January 1, 2011. The computer cost $36,800. It had a useful life of5 years with no salvage value. The computer was sold for $13,760.

Dec.31

Discarded a delivery truck that was purchased on January 1, 2010. The truck cost $39,770. It was depreciated based on a6-year useful life with a $2,930 salvage value.

Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Ridge Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2013.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

This is as far as I got.

Bate lemuntuuldExplanlm Eradlt Jan- 1 Accumulated Depreciation seem Equipment 53.81!) June 3\" Depreciation Expense Accum u | ated Dep reciation- {To record depreciation to date of dlsposalj June 3': 13,?5'3 Accumulated Depreciation- Gain on Disposal of Plant 1 Equipment DEC- 31 Depreciation Expense Accum u | ated Dep reciation- {To record depreciation to date of dlsposal] Dec- 31 Loss on Disposal of Plant ll Accumulated Depreciation- Equip ment llllllllllllli lllllllllllll