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Saved Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 Jan. 1 Paid $23,515 cash plus $1,635 in sales tax
Saved Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 Jan. 1 Paid $23,515 cash plus $1,635 in sales tax for a new delivery truck estimated to have a five-year life and $2,150 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. k Year 2 Dec. 31 The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,550. Recorded annual straight-line depreciation on the truck. t ces Year 3 Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,600 cash. 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. Required 1A Required 1B Required 1C Prepare journal entries to record these transactions and events. View transaction list aw Year 2 Dec. 31 The truck's estimated useful life was changed from five to four years, and the estimated increased to $2,550. Recorded annual straight-line depreciation on the truck. Year 3 Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,600 cash. 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. S Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Calculate depreciation for Year 2. Total cost $ Less accumulated depreciation (from Year 1) 25,150 4,600 20,550 Book value 2,550 Less revised salvage value Remaining cost to be depreciated Years of life remaining Total depreciation for Year 2 0 Required 1B > DOC Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,600 cash. 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. Required 1A TRICOLOR Required 1B Required 1c Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. I Depreciation expense (for Year 1) Depreciation expense (for Year 2) Depreciation expense (for Year 3) Accumulated depreciation 12/31/Year 3 Book value of truck at 12/31/Year 3 Total cost Accumulated depreciation Book value 12/31/Year 3 Journal entry worksheet
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