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Here are selected 2022 transactions of Bramble Corp. Jan. 1 June 30 Retired a piece of machinery that was purchased on January 1, 2012. The
Here are selected 2022 transactions of Bramble Corp. Jan. 1 June 30 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $64.300 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2020. The computer cost $42,300 and had a useful life of 3 years with no salvage value. The computer was sold for $6.200 cash. Sold a delivery truck for $10,000 cash. The truck cost $35,500 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3.000 salvage value. Dec 31 Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Bramble Corp. uses straight-line depreciation (Assume depreciation is up to date as of December 31, 2021). (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Do not round intermediate calculations.) Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Bramble Corp. uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021). (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Do not round intermediate calculations.) Date Debit Credit Account Titles and Explanation Accumulated Depreciation-Equipment Jan 1 64,300 Equipment 64,300 June 30 Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation to date of disposal) June 30 Cash Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment (To record sale of computer) Depreciation Expense Dec 31 Accumulated Depreciation Equipment (To record depreciation to date of disposal) Dec 31 cash Accumulated Depreciation Equipment Gain on Disposal of Plant Assets Equipment To record retirement of truck)
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