Mercury Delivery Service completed the following transactions and events involving the purchase and operation of equipment for its business.
Chapter 10 Plant Assets, Natural Resources, and Intangibles 449 Mercury Delivery Service completed the following transactions and events involving the purchase and Problem 1 operation of equipment for its business. Computing and revising 2014 depreciation; revenue Jan. 1 Paid s25.860 cash plus si,810 in sales tax for a new delivery van that was estimated to have a C1 C2 C3 Jan. 3 five-year life and a $3,670 salvage value. Van costs are recorded in the Equipment account. Paid $1,850 to install sorting racks in the van for more accurate and quicker delivery of pack- and capital expenditures Dec. 31 ages. This increases the estimated value of the van by another $230. Recorded annual straight-line depreciation on the van. Check Dec. 31, 2014. 2015 Dr. Depor. Expense-Equip. Jan. 1 Paid $2,064 to overhaul the van's engine, which increased the van's estimated useful life by two $5,124 May 10 Paid $800 to repair the van after the driver backed it into a loading dock. Dec. 31 Record annual straight-line depreciation on the van. (Round to the nearest dollar.) Required Check Dec. 31, 2015. Dr. Depr. Expense-Equip. Prepare journal entries to record these transactions and events. $3,760 York Instruments completed the following transactions and events involving its machinery. 2014 Problem 10-5B an. 1 Paid $107,800 cash Computing and revising Dec. 31 have a six-year life plus $6,470 in sales tax for a new depreciation; selling Recorded and a $9,720 machine. The machine is estimated to plant assets annual straight-line value. machin depreciation on the Chapter 10 Plant Assets, Natural Resources, and Intangibles 449 Mercury Delivery Service completed the following transactions and events involving the purchase and Problem 1 operation of equipment for its business. Computing and revising 2014 depreciation; revenue Jan. 1 Paid s25.860 cash plus si,810 in sales tax for a new delivery van that was estimated to have a C1 C2 C3 Jan. 3 five-year life and a $3,670 salvage value. Van costs are recorded in the Equipment account. Paid $1,850 to install sorting racks in the van for more accurate and quicker delivery of pack- and capital expenditures Dec. 31 ages. This increases the estimated value of the van by another $230. Recorded annual straight-line depreciation on the van. Check Dec. 31, 2014. 2015 Dr. Depor. Expense-Equip. Jan. 1 Paid $2,064 to overhaul the van's engine, which increased the van's estimated useful life by two $5,124 May 10 Paid $800 to repair the van after the driver backed it into a loading dock. Dec. 31 Record annual straight-line depreciation on the van. (Round to the nearest dollar.) Required Check Dec. 31, 2015. Dr. Depr. Expense-Equip. Prepare journal entries to record these transactions and events. $3,760 York Instruments completed the following transactions and events involving its machinery. 2014 Problem 10-5B an. 1 Paid $107,800 cash Computing and revising Dec. 31 have a six-year life plus $6,470 in sales tax for a new depreciation; selling Recorded and a $9,720 machine. The machine is estimated to plant assets annual straight-line value. machin depreciation on the
