Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $23,515 cash plus $1,635 in sales tax for a new delivery truck estimated to have a five-year life and a $2,300 salvage value. Delivery truck costs are recorded in the Trucks account. December 31 Recorded annual straight-1ine depreciation on the truck. Year 2 December 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-1ine depreciation on the truck. Year 3 December 31 Recorded annual straight-1ine depreciation on the truck. December 31 sold the truck for $5,300 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. Calculate depreciation for Year 2 . Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $23,515 cash plus $1,635 in sales tax for a new delivery truck estimated to have a 1 ive-year Iife and a $2,300 salvage value. Delivery truck cost are recorded in the Trucks account. December 31 Recorded annual straight-1ine depreciation on the truck. Year 2 December 31 The truck's estimated useful life was changed from five to four yearm, and the entimated salvage value wan increased to $2,700. Rocorded annual straight-1ine depreciation on the truek. Year 3 December 31 Recorded annual straight-1ine depreciation on the truck. Decenber 31 sold the truck for $5,300 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 journai entries to record these transactions and events. 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. Journal entry worksheet 5 Record the total cost of the new delivery truck. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of the delivery truck. Note: Enter debits before credits. Journal entry worksheet Record the year-end adjusting entry for the depreciation expense of the delivery truck. Note: Enter debits before credits. Journal entry worksheet 1 Record the year-end adjusting entry for the depreciation expense of the delivery truck. Note: Enter debits before credits. Journal entry worksheet
