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please help Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 paid $22,015 cash plun $1,635 in nales
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Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 paid $22,015 cash plun $1,635 in nales tax for a new delivery truck estinated to have a five-year life and a $2,300 malvage value. Delivery truck costa are recorded in the Truck account. Decenber 31 hecorded annual stralght-1ine depreciation on the truck. Year 2 Decesber 31 the truok's estimated useful life wan changed from five to tour yeari, and the estimated aatvage value wal increaned to 92 , 850. Recorded annual straight-1ine depreclation on the truck. Year 3 Decenber 31 Recorded annual straight-1ine dapreciation on the truck. December 31 sold the truok for 55,300 canh. Required: 1.a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3 , 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Calculate depreciation for Year 2. Complete this question by entering your answers in the tabs below. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. Journal entry worksheet 1 Record the year-end adjusting entry for the depreciation expense of the dellvery truck. Note: Enter debits before credts: Journal entry worksheet 1 2 Record the year-end adjusting entry for the depreciation expense of the delivery truck. Note: Enter debits before credits. Journal entry worksheet (1) (2) 3 5 Record the sale of the delivery truck for $5,300 cash. Note: Enter debits before credits Step by Step Solution
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