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Strawberry Fields purchased a tractor at a cost of $38,000 and sold it two years later for $24,600. Strawberry Fields recorded depreciation using the straight-line method, a five-year service life. and an $1000 residual value. 1. What was the gain or loss on the sale? :-:| 9 2. Record the sale. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the sale. Note: Enter debits before credits. Transaction General Journal Debit Credit 110 Taco Hut purchased equipment on May 1, 2021, for $16,000. Residual value at the end of an estimated eight-year service life is expected to be $3,000. Calculate depreciation expense using the straight-line method for 2021 and 2022, assuming a December 31 year-end. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) Year Depreciation Expense 2021 202211 Burger Chef acquired a delivery truck on March 1, 2021, for $27300. The company' estimates a residual value of $2,300 and a ve-year service life. It expects to drive the truck 83,000 miles. Actual mileage was 13,000 miles in 2021 and 13,500 miles in 2022. Calculate depreciation expense using the activity-based method for 2021 and 2022. assuming a December 31 year-end. {Do not round intermediate calculations.) 2021 2022 12 China Dragon purchased new restaurant equipment on September 1, 2021. for $3.000. Residual value at the end of an estimated ve- year service life is expected to be $2,500. Calculate depreciation expense using the straight-line method for 2021 and 2022. assuming a December 31 year-end. (Do not round your intermediate calculations. Round your nal answers to the nearest whole dollar.) 2021 2022