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i need the annswers of questions 11,12,13,14 Bill's Photos buys a truck on 4/1/2000 for the business. The cost is 150,000 and they expect to

i need the annswers of questions 11,12,13,14 image text in transcribed
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Bill's Photos buys a truck on 4/1/2000 for the business. The cost is 150,000 and they expect to use it for 6 years and expect a salvage value at that time of $6,000. Use straight line depreciation. PAY ATTENTION TO THE DATES 8. Describe the purchase of the truck with a journal entry: DATE Account Debit Credit 4/1/2000 Truck 150000 Cash 150000 DATE 9. Describe the first MONTHS depreciation with a journal entry: Account Depreciation Expence Accumulated Depreciation Credit Debit 2000 2000 10 Create the T-accounts for the accounts in #1 and #2 and show the balance at 4/30/2000 A/P Depreciation Expence 2000 150000 GIVEN - nothing required 2000 1 Truck Accumulated Depreciation 2 150000 2000 3 2000 150000 25 G H 150000 2000 11 They decide to sell the truck on 10/31/2005. What is the net book value at this time? 12. The truck is sold for 12,000 cash on 10/31/2005. Describe this with a journal entry. 9 10 Go back to the original assumptions. Assume they used miles driven as the method of depreciation. They believe it will be used 100,000 miles with the same 8,000 salvage value. - 13. Describe the first months depreciation if they drive the truck 3,000 miles. DATE Account Debit Credit Depreciation expence 4320 1 Accumulated depreciation 4320 92 93 14. If they drive it for 90,000 miles and sell it for 5,000, create the 9 journal entry. DATE Account Debit Credit 10/31/2005 200 202

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