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Yosl'Ii Company completed the following transactions and events involving its delivery trucks. lit-er 1' Jan. 1 Paid $22,015 cash plus $1,485 in sales tax for a new delivery truck estimated to have a fiveyear life and a $2,159 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. thari' Dec. 31 The truck's estimated useful life was changed from five to four yearsJr and the estimated salvage value was increased to $2,?00. Recorded annual straight-line depreciation on the truck. than? Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,500 cash. Required: 1-a. Calculate depreciation for Year 2. Hi. Calculate book value and gain {loss} for sale ofTruck on December 31. Year 3. 1-c. Prepare journal entries to record these transactions and events. 9 Answer Is not complete. Complete this question by entering your owners In the tabs below. Required 1A Required 15 Required 1C Calculate depreciation for Year 2. Total cost 5 0 0 liess accumulated depreciation {from Year 0 0 Book value 0 9 Less revised salvage value 0 0 Remaining cost to be depreciated Years of life remaining 0 a Total depreciation for Year 2 0 Required 'IB 3' Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 Jan. 1 Paid $22,015 cash plus $1, 485 in sales tax for a new delivery truck estimated to have a five-year life and a $2, 150 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. 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 $2,700. 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, 500 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. x Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. Depreciation expense (for Year 1) $ OX Depreciation expense (for Year 2) O X Depreciation expense (for Year 3) D X Accumulated depreciation 12/31/Year 3 0 Book value of truck at 12/31/Year 3 Total cost $ O X Accumulated depreciation OX Book value 12/31/Year 3 OX Loss on sale of truck O $ OX Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 Jan. 1 Paid $22,015 cash plus $1, 485 in sales tax for a new delivery truck estimated to have a five-year life and a $2, 150 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. 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 $2,700. 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 $5,500 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. Answer is not complete. 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. No Date General Journal Debit Credit Jan 01, Year 1 Equipment X O X Cash O X 2 Dec 31, Year 1 Depreciation expense-Trucks O X Accumulated depreciation-Trucks Ox 3 Dec 31, Year 2 Ox OX 4 Dec 31, Year 3 OX Ox 5 Dec 31, Year 3 Gain on sale of equipment X 5,500 Cash 5,500 x
