for the years ended method, the uni OM of prore PRO4 Dep ie d year has PRO4 Depreciation by we methode sale of wedas N of H1O.CO u re of four years and an estimate c u modd infomach year. On the basis of the native ation regarding the effect of a method sold for $1.0) 7. The the amount of de f ining ance method was select them , the de in the w eek of the fourth year, the expriment was and the book me wethod with instructions mar headings are 1. D e the animal depreciation expense for each of the a l ted depreciation at the end of each eesti the equ a r the end of each year by (a) the w ar and d e clining balance method. The following columnarine me schedule Accumulated Depreciation, Depove Book Val Ende Dispense Depreciation uipment sold for 2 Journaline the entry to record the sale. 3. Journalire the entry to record the sale, assuming that the sou instead of $18,000. ind closing entries were com 081.1.2.1 ompletely to the use of deliver com PR 10-58 Transactions for fixed assets, including sale The following transactions, adjusting entries, and closing entries Robinson Furniture Co. during a three-year period. All are related to equipment. The double-declining-balance method of depreciation is 2012 Jan. 8. Purchased a used delivery truck for $24,000, paying cash, Mar. 7. Paid garage $900 for changing the oil, replacing the oil filter engine on the delivery truck. he oil filter, and tuning the The estimated useful lide f $4.000 for the truck. Dec. 31. Recorded depreciation on the truck for the fiscal year. The esti of the truck is four years, with a residual value of $4,000 for the 2013 Jan. 9. Purchased a new truck for $50,000, paying cash. Feb. 28. Paid garage $250 to tune the engine and make other minor repairs truck. Apr. 30. Sold the used truck for $9,500. (Record depreciation to date in 2013 for the truck.) minor repairs on the used Dec. 31. Record depreciation for the new truck. It has an estimated residual value of $12,000 and an estimated life of eight years. for the years ended method, the uni OM of prore PRO4 Dep ie d year has PRO4 Depreciation by we methode sale of wedas N of H1O.CO u re of four years and an estimate c u modd infomach year. On the basis of the native ation regarding the effect of a method sold for $1.0) 7. The the amount of de f ining ance method was select them , the de in the w eek of the fourth year, the expriment was and the book me wethod with instructions mar headings are 1. D e the animal depreciation expense for each of the a l ted depreciation at the end of each eesti the equ a r the end of each year by (a) the w ar and d e clining balance method. The following columnarine me schedule Accumulated Depreciation, Depove Book Val Ende Dispense Depreciation uipment sold for 2 Journaline the entry to record the sale. 3. Journalire the entry to record the sale, assuming that the sou instead of $18,000. ind closing entries were com 081.1.2.1 ompletely to the use of deliver com PR 10-58 Transactions for fixed assets, including sale The following transactions, adjusting entries, and closing entries Robinson Furniture Co. during a three-year period. All are related to equipment. The double-declining-balance method of depreciation is 2012 Jan. 8. Purchased a used delivery truck for $24,000, paying cash, Mar. 7. Paid garage $900 for changing the oil, replacing the oil filter engine on the delivery truck. he oil filter, and tuning the The estimated useful lide f $4.000 for the truck. Dec. 31. Recorded depreciation on the truck for the fiscal year. The esti of the truck is four years, with a residual value of $4,000 for the 2013 Jan. 9. Purchased a new truck for $50,000, paying cash. Feb. 28. Paid garage $250 to tune the engine and make other minor repairs truck. Apr. 30. Sold the used truck for $9,500. (Record depreciation to date in 2013 for the truck.) minor repairs on the used Dec. 31. Record depreciation for the new truck. It has an estimated residual value of $12,000 and an estimated life of eight years
