No SIM Done 12:24 AM ACCOUNTING FOR DEPRECIABLE ASSETS docx Instructions Using the information provided below: Calculate the annual depreciation for the depreciable assets in 2013 2. Prepare the journal entries (using correct dates and explanations that are necessary to record the following The purchase of the assets bought in 2013 The depreciation for each of the depreciable assets for the year ended Dec. 31, 2013 The potential sale of the truck on December 31 2016 using the information provided 3. Enter the post references in the journal for journal entries prepared in Step 2 (note: only include post references for the entries actually posted) 4. Complete the financial statements for the year ended December 31, 2013 (NOTE: current portion of note payable is $52,800) Answer questions a-f In 2012 and 2013, Fish & Bait Company had in the following transactions for fixed assets Depreciation Life Transaction Cost Salvage Value 124,225 N/A Purchased 24,000 $132,000 12,000 6/30/2012 Purchased machinery prod. hours Purchased 1/5/2013 000 10/1/2013 Purchased Straight store equip. line Additional information The company paid 000 cash for the truck and sioned a 49%