{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T08:22:12-04:00", "answer_date": "2024-06-28 08:22:12", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4273176", "url": "\/study-help\/questions\/jan-1-retired-a-piece-of-machinery-that-was-purchased-4273176", "question_creation_date_js": "2024-06-28T08:22:12-04:00", "question_creation_date": "Jun 28, 2024 08:22 AM", "meta_title": "[Solved] Jan. 1 Retired a piece of machinery that | SolutionInn", "meta_description": "Answer of - Jan. 1 Retired a piece of machinery that was purchased on January 1, 2010. The machine cost $62,100 on that date. It h | SolutionInn", "meta_keywords": "jan,1,retired,piece,machinery,purchased,january,2010,machine,cost,$62,100,date", "question_title_h1": "Jan. 1 Retired a piece of machinery that was purchased on January 1, 2010. The machine cost $62,100 on that date. It had a useful", "question_title": "Jan. 1 Retired a piece of machinery that was purchased on January", "question_title_for_js_snippet": "Jan 1 Retired a piece of machinery that was purchased on January 1, 2010 The machine cost $62,100 on that date It had a useful life of 10 years with no salvage value June 30 Sold a computer that was purchased on January 1, 2017 The computer cost $36,000 It had a useful life of 5 years with no salvage value The computer was sold for $15,200 Dec 31 Discarded a delivery truck that was purchased on January 1, 2016 The truck cost $40,440 It was depreciated based on a 6 year useful life with a $3,000 salvage value Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of Larkspur, Inc uses straight line depreciation (Assume depreciation is up to date as of December 31, 2019 ) (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 0 for the amounts Do not round intermediate calculations ) Date Account Titles and Explanation Debit Credit pan 1) Accumulated Depreciation Equipment 162100 Equipment 162100 June Depreciation Expense (3600) 30 Accumulated Depreciation Equipment 13600 To record depreciation to date of disposal) June XF 30 Accumulated Depreciation Equipment 18000 Tcash 4400 x F Loss on Disposal of Plant Assets 13600 Equipment 136000 (To record sale of computer) Dec 31 Depreciation Expense 6240 Accumulated Depreciation Equipment 16240 (To record depreciation to date of disposal) Dec 31 Accumulated Depreciation Equipment Gain on Disposal of Plant Assets 3300 equipme (To record retirement of truck) Question Attempts 1 of 3 used", "question_description": "
\"image<\/div><\/div><\/div> Jan. 1 Retired a piece of machinery that was purchased on January 1, 2010. The machine cost $62,100 on that date. It had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2017. The computer cost $36,000. It had a useful life of 5 years with no salvage value. The computer was sold for $15,200. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2016. The truck cost $40,440. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Larkspur, Inc. uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2019.) (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 0 for the amounts. Do not round intermediate calculations.) Date Account Titles and Explanation Debit Credit pan. 1) [Accumulated Depreciation-Equipment 162100 Equipment 162100 June Depreciation Expense (3600) 30 [Accumulated Depreciation-Equipment 13600 To record depreciation to date of disposal) June XF 30 Accumulated Depreciation-Equipment 18000 Tcash 4400 x * F Loss on Disposal of Plant Assets 13600 Equipment 136000 (To record sale of computer) Dec. 31 Depreciation Expense 6240 Accumulated Depreciation-Equipment 16240 (To record depreciation to date of disposal) Dec. 31 [Accumulated Depreciation-Equipment Gain on Disposal of Plant Assets 3300 equipme (To record retirement of truck) Question Attempts: 1 of 3 used", "transcribed_text": "", "related_book": { "title": "Data Analysis And Decision Making", "isbn": "538476125, 978-0538476126", "edition": "4th Edition", "authors": "Christian Albright, Wayne Winston, Christopher Zappe", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/415.jpg", "uri": "\/textbooks\/data-analysis-and-decision-making-4th-edition-415", "see_more_uri": "" }, "free_related_book": { "isbn": "1856174670", "uri": "\/textbooks\/1-forsthoffers-rotating-equipment-handbooks-fundamentals-of-rotating-equipment-1st-edition-978-1856174671-296789", "name": "1 Forsthoffers Rotating Equipment Handbooks Fundamentals Of Rotating Equipment", "edition": "1st Edition" }, "question_posted": "2024-06-28 08:22:12", "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/solve-the-following-linear-programming-model-graphically-minimize-z-", "description": "Solve the following linear programming model graphically: minimize Z = 8x1 + 2x2 subject to 2x1 - 6x2 12 5x1 + 4x2 40 x1 + 2x2 12 x2 6 x1, x2 0", "stars": 3 }, { "url": "\/study-help\/psychology\/what-if-any-financial-support-do-they-provide-their-students-1980919", "description": "What, if any, financial support do they provide their students?", "stars": 3 }, { "url": "\/in-auditing-the-train-company-you-obtain-directly-from-the", "description": "In auditing the Train Company, you obtain directly from the bank Trains bank statement, canceled checks, and other memoranda which relate to the companys bank account for December 2007. In...", "stars": 3 }, { "url": "\/study-help\/questions\/the-palmer-corporation-sells-goods-to-its-customers-on-a-9880602", "description": "The Palmer Corporation sells goods to its customers on a note basis with % credit terms and interest payable at the end o each quarter. Al notes are due in one year. Palmer makes the following sales...", "stars": 3 }, { "url": "\/study-help\/questions\/question-zurich-ltd-zuch-lich-budgeted-production-and-sales-of-1992453", "description": "QUESTION ZURICH LTD Zuch Lich budgeted production and sales of leather gloves for Dec 2021-Apr 2022 months as follows Production Sales (UNITS) (UNITS) November 800 1200 December 850 800 January 900...", "stars": 3 }, { "url": "\/study-help\/questions\/problem-6-20-points-assume-a-solution-of-boron-and-1029798", "description": "PROBLEM 6. (20 points) Assume a solution of boron and water. Density of water is 1.0 g\/cm and the concentration of natural boron is 72g\/cm. This solution is exposed to a source of thermal neutrons...", "stars": 3 }, { "url": "\/study-help\/questions\/a-what-is-the-cost-per-kg-of-oranges-for-1009828", "description": "a) What is the cost per kg of oranges for each supplier? b) Which is the cheapest supplier and which is the most expensive supplier? c) List the priority in which you will purchase from each...", "stars": 3 }, { "url": "\/study-help\/questions\/in-a-survey-of-1050-us-adults-588-said-that-1000938", "description": "In a survey of 1050 U.S. adults, 588 said that chocolate was their favorite ice cream flavor. Construct a 95% CI for the population proportion of U.S. adults who say chocolate is their favorite ice...", "stars": 3 }, { "url": "\/study-help\/questions\/7-you-elect-extended-payment-of-a-student-loan-at-1002894", "description": "7. You elect extended payment of a student loan at 4.14% APR, and your monthly payment is $493.11. What would your monthly payment be on this loan if you elected standard repayment instead?", "stars": 3 }, { "url": "\/study-help\/questions\/assumingthatthecodegeneratorpolynomialis-g-x-1-x-2-x-3-999848", "description": "Assumingthatthecodegeneratorpolynomialis g ( x )=1+ x 2 + x 3 fora(7,4)code,findthelinear block code generator matrix G and the parity check matrix H .For a message m = 1011find the transmitted code...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/you-havejust-been-hired-as-a-new-management-trainee-by-4273175", "next": "\/study-help\/questions\/4on-31-december-2013-entity-a-holds-a-35-noncontrolling-4273177" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Jan. 1 Retired a piece of machinery that was purchased on January", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/jan-1-retired-a-piece-of-machinery-that-was-purchased-4273176" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }}