Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 paid $20,515 cash plus $1,785 in sales tax for a new delivery truck estinated to have a fiveyear ife and a $2,300 salvage value. Delivery truck costa are recorded in the Trucks account. Decenber 31 Recorded annual straight-line 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 $,400 eash. 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 $20,515 cash plus $1,785 in sales tax for a new delivery truck estimated to have a fiveyear ife and a $2,300 salvage value, Delivery truck costs are recorded in the Trucks account. December 31 Recorded annual straight-1ine depreciation on the truek. 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 truek for $5,400 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 joumal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Prepare journal entries to record these transactions and events. Yoshi Company completed the following transactions and events involving its dellvery trucks. Year 1 January 1 paid $20,515 cash plus $1,765 in sales tax for a new delivery truck estimated to have a f fve-year Iife and a $2,300 salvaqe value. Delivery truck costs are recorded in the Trucks account. Decenber 31 Recorded annual straight-line depreeiation on the truck. Year 2 Decesber 31 The truck's estimated useful life was changed fron five to four years, and the entimated salvage value was increased to $2,700. Recorded annual straight-1ine depreciation on the truck. Year 3 Decenber 31 Recorded annas stralght-1ine depreciation on the truck. December 31 sold the truek for $5,400 easb. 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 book value and gain (loss) for sale of Truck on December 31, Year 3
