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Remaining tabs: 2. Record the year-end adjusting entry for the depreciation expense of the delivery truck. (dec 31. 2017) 3. Record the year-end adjusting entry
Remaining tabs:
2. Record the year-end adjusting entry for the depreciation expense of the delivery truck. (dec 31. 2017)
3. Record the year-end adjusting entry for the depreciation expense of the delivery truck. (dec 31. 2018)
4. Record the year-end adjusting entry for the depreciation expense of the delivery truck. (dec 31. 2019)
5. Record the sale of the delivery truck for $5,300 cash.
Yoshi Company completed the following transactions and events involving its delivery trucks. 2017 Jan. 1 Paid $25,815 cash plus $1,635 in sales tax for a new delivery truck estimated to have a five-year life and a $2,880 salvage Dec. 31 Recorded annual straight-line depreciation on the truck 2018 Dec. 31 Due to new information obtained earlier in the year, the truck' s estimated useful life was changed from five to four years, value. Delivery truck costs are recorded in the Trucks account and the estimated salvage value was increased to $2,788. Recorded annual straight-line depreciation on the truck 2019 Dec. 31 Recorded annual straight-line depreciation on the truck Dec. 31 Sold the truck for $5,308 cash Requlrec 1-a. Calculate depreciation for year 2018 1-b. Calculate book value and gain (loss) for sale of Truck on December, 2019 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below Req 1A Req 1B Req 1C Calculate depreciation for year 2018. Total cost Less accumulated depreciation (from 2017) Book value Less revised salvage value Remaining cost to be depreciated Years of life remaining Total depreciation for 2018 Req 1A Req 1B>Step by Step Solution
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