Question

(To record sale of forklift) Dec. 31 4 Depreciation Expense 4000 Accumulated Depreciation Equipment 4000 (To record depreciation expense on truck) Dec. 31 4 Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment | (To record sale of truck)
Please help fill in red and missing!

Answer 1

Date	Accounts Titles and Explanation	Debit	Credit
Jan 01	Accumulated Depreciation - Equipment	$73,000
	Equipment		$73,000
June 30	Depreciation Expenses	$3,200		($32,000/5 x 6/12]
	Accumulated Depreciation - Equipment		$3,200
	(To record depreciation expenses on forklift)
June 30	Cash	$12,200
	Accumulated Depreciation	$22,400		($32,000 x 3/5 + $3,200)
	Equipment		$32,000
	Gain on Disposal of Plant Assets		$2,600
	(To record sale of equipment)
Dec 31	Depreciation Expenses	$4,425		($38,400 - $3,000) x 1/8
	Accumulated Depreciation - Equipment		$4,425
	(To record depreciation expenses on Truck)
Dec 31	Accumulated Depreciation - Equipment	$26,550		($38,400 - $3,000) x 6/8
	Loss on Disposal of Plant Assets	$11,850
	Equipment		$38,400
	(To record sale of Truck)