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I need help answering the questions in the attached document Exercise 10-9 Presented below are selected transactions at Ridge Company for 2014. Jan. 1 June
I need help answering the questions in the attached document
Exercise 10-9 Presented below are selected transactions at Ridge Company for 2014. Jan. 1 June 3 0 3 1 Dec. Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $64,600 on that date. It had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2011. The computer cost $36,020. It had a useful life of 5 years with no salvage value. The computer was sold for $14,670. Discarded a delivery truck that was purchased on January 1, 2010. The truck cost $36,560. It was depreciated based on a 6-year useful life with a $2,120 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.) Date Account Titles and Explanation Jan. 1 June 30 (To record depreciation to date of disposal) June 30 Dec. 31 (To record depreciation to date of disposal) Dec. 31 Debit Credit Don't show me this message again for the assignmentStep by Step Solution
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