Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

journal entry for 2022 depreciation Carla Vista Company purchased a delivery truck for $36,000 on July 1, 2022. The truck has an expected salvage value

journal entry for 2022 depreciation image text in transcribed
image text in transcribed
image text in transcribed
Carla Vista Company purchased a delivery truck for $36,000 on July 1, 2022. The truck has an expected salvage value of $6.000, and Is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15.000 in 2022 and 12.000 in 2023. Carla Vista uses the straight-line method of depreciation, Compute depreciation expense for 2022 and 2023. Depreciation Expense 2022 2023 Straight-line method 1875 3250 Prepare the journal entry to record 2022 depreciation. (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 for the amounts) Debit Credit Account Titles and Explanation 3750 Depreciation Expense Accumulated Depreciation Equipment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-30

Authors: John Price, M. David Haddock, Michael Farina

15th edition

1259994975, 125999497X, 1259631117, 978-1259631115

Students also viewed these Accounting questions