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Presented here are selected transactions for Cox Ltd for 2019. Jan 1 June 30 Scrapped a piece of machinery that was purchased on 1 January
Presented here are selected transactions for Cox Ltd for 2019. Jan 1 June 30 Scrapped a piece of machinery that was purchased on 1 January 2009. The machine cost $78 000 and had a useful life of 10 years with no residual value. Sold office equipment that was purchased on 1 January 2016. The equipment cost $73 500 and had a useful life of 5 years with no residual value. The office equipment was sold for $30 000. Discarded a delivery truck that was purchased on 1 January 2015. The truck cost $40 500 and was depreciated based on an 8-year useful life with a $4500 residual value. Dec. 31 Required Journalise all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Cox Ltd uses straight-line depreciation. The financial year-end is 31 December
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