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please help me on the ones i got wrong Question 6 Partially correct Mark 0.76 out of 100 P Flag Question O Edit question Disposal
please help me on the ones i got wrong
Question 6 Partially correct Mark 0.76 out of 100 P Flag Question O Edit question Disposal of Plant Asset Canyon Company has a used delivery truck that originally cost $36,300. Straight-line depreciation on the truck has been recorded for three years, with a $3,000 expected Salvage value at the end of its estimated six-year useful life. The last depreciation entry was made at the end of the third year. Four months into the fourth year, Canyon disposes of the truck Required Prepare journal entries to record: a. Depreciation expense to the date of disposal b. Sale of the truck for cash at its book value. c. Sale of the truck for $30, 200 cash d. Sale of the truck for $12,000 cash e. Theft of the truck Canyon carries no insurance for theft. e. Theft of the truck. Canyon carries no insurance for theft. Reference Debit 1,833 x 0 Credit 0 1,833 x 0 a 17,967 x 18,333 x 0 36,300 General Journal Description Depreciation Expense - Truck Accumulated Depreciation - Truck To record depreciation expense for 4 months. Cash Accumulated Depreciation - Truck Truck To record sale of truck. Cash Accumulated Depreciation - Truck Truck Gain on Sale of Plant Assets To record sale of truck. Cash Loss on Sale of Plant Assets Accumulated Depreciation - Truck Truck To record sale of truck. Theft Loss Accumulated Depreciation - Truck Truck To record theft of uninsured truck. 30,200 18,333 x 0 0 0 0 36,300 12,233 x 0 0 12,000 5,967 x 18,333 x O 0 36,300 0 17,967 x 18,333 x 0 0 36,300 Step by Step Solution
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