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Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $ 2 2 , 0 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 truck's 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
b Calculate book value and gain loss for sale of Truck on December Year
c Prepare journal entries to record these transactions and events.
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Requireghif
Required B
Required
Calculate book value and gain loss for sale of Truck on December Year
tableDepreciation expense for Year $Depreciation expense for Year Depreciation expense for Year Accumulated depreciation Year Book value of truck at Year Total cost$
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