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Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $ 2 0 , 5 1 5 cash
Yoshi Company completed the following transactions and events involving its delivery trucks. Year January Paid $ cash plus $ in sales tax for a new delivery truck estimated to have a fiveyear life and a $ salvage value. Delivery truck costs are recorded in the Trucks account.December Recorded annual straightline depreciation on the truck.Year December The trucks estimated useful life was changed from five to four years, and the estimated salvage value was increased to $ Recorded annual straightline depreciation on the truck.Year December Recorded annual straightline depreciation on the truck.December Sold the truck for $ cash.Required:a Calculate depreciation for Year Calculate depreciation for Year Total costLess accumulated depreciation from Year Book valueLess revised salvage valueRemaining cost to be depreciatedYears of life remainingTotal depreciation for Year b Calculate book value and gain loss for sale of Truck on December Year Calculate book value and gain loss for sale of Truck on December Year Depreciation expense for Year Depreciation expense for Year Depreciation expense for Year Accumulated depreciation Year Book value of truck at Year Total costAccumulated depreciationBook valuec Prepare journal entries to record these transactions and events. Required abc
Yoshi Company completed the following transactions and events involving its delivery trucks. Year January Paid $ cash plus $ in sales tax for a new delivery truck estimated to have a fiveyear life and a $ salvage value. Delivery truck costs are recorded in the Trucks account.December Recorded annual straightline depreciation on the truck.Year December The trucks estimated useful life was changed from five to four years, and the estimated salvage value was increased to $ Recorded annual straightline depreciation on the truck.Year December Recorded annual straightline depreciation on the truck.December Sold the truck for $ cash.Required:a Calculate depreciation for Year Calculate depreciation for Year Total costLess accumulated depreciation from Year Book valueLess revised salvage valueRemaining cost to be depreciatedYears of life remainingTotal depreciation for Year b Calculate book value and gain loss for sale of Truck on December Year Calculate book value and gain loss for sale of Truck on December Year Depreciation expense for Year Depreciation expense for Year Depreciation expense for Year Accumulated depreciation Year Book value of truck at Year Total costAccumulated depreciationBook valuec Prepare journal entries to record these transactions and events. Required abc
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