Yoshi Company completed the following transactions and events involving its delivery trucks Year 1 January 1 Paid $ 2 5 , 0 1 5 cash plus $ 1 , 6 3 5 in sales tax for a new delivery truck estimated to have a five year life and a $ 2 , 3 0 0 salvage value Delivery truck costs are recorded in the Trucks account December 3 1 Recorded annual straight line depreciation on the truck Year 2 December 3 1 The truck s estimated useful life was changed from five to four years, and the estimated salvage value was increased to $ 2 , 5 5 0 Recorded annual straight line depreciation on the truck Year 3 December 3 1 Recorded annual straight line depreciation on the truck December 3 1 Sold the truck for $ 5 , 6 0 0 cash Required 1 a Calculate depreciation for Year 2 1 b Calculate book value and gain ( loss ) for sale of Truck on December 3 1 , Year 3 1 c Prepare journal entries to record these transactions and events Yoshi Company completed the following transactions and events Involving Its delivery trucks Year 1 January 1 Paid $ 2 5 , 0 1 5 cash plus $ 1 , 6 3 5 in sales tax for a new delivery truck estimated to have a five year life and a $ 2 , 3 e 0 salvage value Delivery truck costs are recorded in the Trucks account December 3 1 Recorded annual straight line depreciation on the truck Year 2 $ 2 , 5 5 0 Recorded annual straight line depreciation on the truck Year 3 December 3 1 Recorded annual straight line depreciation on the truck December 3 1 sold the truck for $ 5 , 6 0 0 cash Required 1 a Calculate depreclation for Year 2 1 b Calculate book value and galn ( loss ) for sale of Truck on December 3 1 , Year 3 1 c Prepare journal entrles to record these transactions and events Complete this question by entering your answers in the tabs below Calculate depreciation for Year 2

Question

Yoshi Company completed the following transactions and events involving its delivery trucks  Year 1 January 1 Paid $ 2 5 , 0 1 5 cash plus $ 1 , 6 3 5 in sales tax for a new delivery truck estimated to have a five   year life and a $ 2 , 3 0 0 salvage value  Delivery truck costs are recorded in the Trucks account  December 3 1 Recorded annual straight   line depreciation on the truck  Year 2 December 3 1 The truck s estimated useful life was changed from five to four years, and the estimated salvage value was increased to $ 2 , 5 5 0   Recorded annual straight   line depreciation on the truck  Year 3 December 3 1 Recorded annual straight   line depreciation on the truck  December 3 1 Sold the truck for $ 5 , 6 0 0 cash  Required  1   a   Calculate depreciation for Year 2   1   b   Calculate book value and gain ( loss ) for sale of Truck on December 3 1 , Year 3   1   c   Prepare journal entries to record these transactions and events Yoshi Company completed the following transactions and events Involving Its delivery trucks  Year 1 January 1 Paid $ 2 5 , 0 1 5 cash plus $ 1 , 6 3 5 in sales tax for a new delivery truck estimated to have a five   year life and a $ 2 , 3 e 0 salvage value  Delivery truck costs are recorded in the Trucks account  December 3 1 Recorded annual straight   line depreciation on the truck  Year 2 $ 2 , 5 5 0   Recorded annual straight   line depreciation on the truck  Year 3 December 3 1 Recorded annual straight   line depreciation on the truck  December 3 1 sold the truck for $ 5 , 6 0 0 cash  Required  1   a   Calculate depreclation for Year 2   1   b   Calculate book value and galn ( loss ) for sale of Truck on December 3 1 , Year 3   1   c   Prepare journal entrles to record these transactions and events  Complete this question by entering your answers in the tabs below  Calculate depreciation for Year 2

Accepted Answer

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Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $ 2 5 , 0 1 5 cash

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