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Here are selected 2017 transactions of Pina Corporation. Jan. Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $61,000
Here are selected 2017 transactions of Pina Corporation. Jan. Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $61,000 and had a useful life 1 of 10 years with no salvage value. June Sold a computer that was purchased on January 1, 2015. The computer cost $35,200 and had a useful life of 4 years with no salvage value. The computer was sold for $5,100 cash. Dec Sold a delivery truck for $9.400 cash. The truck cost $23,300 when it was purchased on January 1, 2014, and was 31 depreciated based on a 5-year useful life with a $3.800 salvage value. 30 Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pina Corporation uses straight-line depreciation (Record entries in the order displayed in the problem statement Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Debit Credit Jan 1 61.000 Account Titles and Explanation Accumulated Deprecation-Equipment Depreciation Expense 61.000 June 30 V Depreciation Expense 6,000 6.000 Accumulated Depreciation Equipment (To record depreciation expense for 2017) Cash 5.100 Accumulated Depreciation Equipment Equipment Dec 31 Gain on Disposal of Plant Assets (To record sale of computer) Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense for 2017) Loss on Disposal of Plant Assets Accumulated Depreciation Equipment Equipment (To record sale of delivery truck)
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