Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1

Jan.		1		Paid $23,515 cash plus $1,785 in sales tax for a new delivery truck estimated to have a five-year life and a $2,000 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 trucks estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,850. 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.

1-a. Calculate depreciation for year 2017.

1-b. Calculate book value and gain (loss) for sale of Truck on December, 2018.

1-c. Prepare journal entries to record these transactions and events.

Total cost Less accumulated depreciation (from 2016) Book value Less revised salvage value Remaining cost to be depreciated Years of life remaining Total depreciation for 2017 Depreciation expense (for 2016) Depreciation expense (for 2017) Depreciation expense (for 2018) Accumulated depreciation 12/31/2018 Book value of truck at 12/31/2018 Total cost Accumulated depreciation Book value 12/31/2018 Journal entry worksheet Record the total cost of the new delivery truck. Note: Enter debits before credits. General Journal Debit Credit Date Jan 01, 2016 Record entry Clear entry View general Journal