P9-6A a. And b.

Dee. 31 Recorded depreciation on the truck for the year. Year 3 31 Recorded depreciation on the truck for the year. Dec. Basin's depreciation policies include (1) using straight-line depreciation. (2) recording do depreciation to the nearest whole month, and (3) expensing all truck expenditures of $100 or less Required Prepare journal entries to record these transactions and adjustments. P9-5A. Disposal of Plant Asset Citano Company has a used executive charter plane t $850.000. Straight-line depreciation on the plane has been recorded for six yearsally pected salvage value at the end of its estimated eight-year useful life. The last depreciat made at the end of the sixth year. Eight months into the seventh year, Citano disposes of oh Required Prepare journal entries to record: a. Depreciation expense to the date of disposal. b. Sale of the plane for cash at its book value. c. Sale of the plane for $215.000 cash. d. Sale of the plane for S195.000 cash. six years, with a $70y e. Destruction of the plane in a fire. Citano expects a $190,000 insurance settlement P9-6A. Accounting for Intangible Assets and Leasehold Improvements Berdahl Company owns se Jan. 2 Signed an eight-year lease for additional retail space for an annual rent of $25,250. Pait retail outlets. During the year,it expanded operations and entered into the following transactice the first year's rent on this date. (Hint: Debit the first year's rent to Prepaid Rent.) 3 Paid $23,600 to a contractor for installation of a new oak floor in the leased facility. The Mar. 1 Paid $45,000 to obtain an exclusive area franchise for five years to distribute a new lined oak floor's life is an estimated 50 years with no salvage value. gourmet chocolates