Question

last photo is the questions the 1-8 photos the answers for each spot

2. Journalize the entry to record the sale assuming ourt box does not requirements ord the sale in Canon Sale of Equipment for $10.500 do 18.000. If an amount to do PSE

Answer 1

Joumal entries as follows: Account title | Debit Credit | Date Year 1 Jan. 08 $24.000 Delivery truck Cash $24.000 Mar. 07 $900 Truck repair expense Cash $900 $12.000 Dec. 31 Depreciation Expense Accumulted Depreciation [$24,000 1/4 x 2] $12.000 Year 2 Jan 09 $50.000 Delivery truck Cash $50.000 $250 Feb. 28 Truck Repair Expense Cash $250 $2.000 Apr. 30 Depreciation Accumulated depreciation Ir($24,000-$12,000) x (1/4 x 2) 4/12] $2.000

Apr. 30 Cash Accumulated Depreciation Loss on sales of delivery truck Delivery truck $14.000 $9.500 $500 $24,000 $12.500 Dec. 31 Depreciation Expense Accumulated Depreciation [$50,000 x 2 x 1/8] $12.500 Year 3 Sep. 01 Delivery truck Cash $58.500 $58,500 $6.250 Sep. 04 Depreciation Expense Accumulated Depreciation $6,250 Sep. 04 $36.000 $18.750 Cash Accumulated Depreciation Gain on sale of Delivery truck Delivery truck $4.750 $50,000 $3.900 Dec. 31 Depreciation Expense Accumulated Depreciation [($58,500 x 2 x 1/10) 4/12] $3.900