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Problem 8.5A Computing and revising depreciation; selling plont assets LO C2, P1, P2 Yostu Comparny completed the following transactions and events involving its delivery trucks
Problem 8.5A Computing and revising depreciation; selling plont assets LO C2, P1, P2 Yostu Comparny completed the following transactions and events involving its delivery trucks Year 1 Jan. I Paid 525 , 015 cait plus 51,935 in sales tax for a heu delvery truick estinated to have a five year iife and a 52 , 150 salvage value. belivery truck costs are recorded in the Trucks account. oec. is eecocded annual straight-line depreciation on the truck. Vear 2 bec: it the truck's entiosted useful- life was changed froe five to four years, and the estinated salvage value was increased to 12, ase. Hecorded annual stralght-1ine depreciation on the truck. Year 3 Oec. it Reconded annual stralkbt-line depreciatlon on the truck. Oec. 31 sold the truck for 55;500 cath. Required: 1-a. Calculate depreciation for Yeat 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. Complete this question by entering your answers in the tabs below. Prepare foumal entries to record these transactions and events. Journal entry worksheet 45 Record the total cost of the new delivery truck. Note: Enter debiss before oredita
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