Brief Exercise 10-14 Vaughn Corporation owns machinery that cost $22,400 when purchased on July 1, 2014....
Cullumber Corporation owns machinery that cost $20,800 when purchased on July 1, 2014. Depreciation has been recorded at a rate of $2,496 per year, resulting in a balance in accumulated depreciation of $8,736 at December 31, 2017. The machinery is sold on September 1, 2018, for $10,920. Prepare journal entries to (a) update depreciation for 2018 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Brief Exercise 10-14 elue Corporation owns machinery that cost $24,800 when purchased on July 1, 2014. Depreciation has been recorded at a rate of $2,976 per year, resulting in a balance in accumulated depreciation of $10,416 at December 31, 2017. The machinery is sold on September 1, 2018, for $13,020. Prepare journal entries to (a) update depreciation for 2018 and (b) record the sale. (Credit indent manually. If no entry is required, select "No Entry" for the account titles and...
Blue Corporation owns machinery that cost $41,600 when purchased on January 1, 2020. Depreciation has been recorded at a rate of $6,240 per year, resulting in a balance in accumulated depreciation of $12,480 at December 31, 2021. The machinery is sold on September 1, 2022, for $27,060. Prepare journal entry to update depreciation for 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the...
Culver Corporation owns machinery that cost $20,400 when purchased on July 1, 2017. Depreciation has been recorded at arate of $2.448 per year, resulting in a balance in accumulated depreciation of $8,568 at December 31, 2020. The machinery is sold on September 1, 2021, for $10,710. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select...
Teal Corporation owns machinery that cost $22,000 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $2,640 per year, resulting in a balance in accumulated depreciation of $9,240 at December 31, 2020. The machinery is sold on September 1, 2021, for $11,550. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Oriole Corporation owns machinery that cost $27,200 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $3,264 per year, resulting in a balance in accumulated depreciation of $11,424 at December 31, 2020. The machinery is sold on September 1, 2021, for $14,280. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Stellar Corporation owns machinery that cost $26,800 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $3,216 per year, resulting in a balance in accumulated depreciation of $11,256 at December 31, 2020. The machinery is sold on September 1, 2021, for $14,070. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Concord Corporation owns machinery that cost $28,800 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $3,456 per year, resulting in a balance in accumulated depreciation of $12,096 at December 31, 2020. The machinery is sold on September 1, 2021, for $15,120. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Bridgeport Corporation owns machinery that cost $21,600 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $2,592 per year, resulting in a balance in accumulated depreciation of $9,072 at December 31, 2020. The machinery is sold on September 1, 2021, for $11,340. Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,...
Bramble Corporation owns machinery that cost $26,000 when purchased on July 1, 2017. Depreciation has been recorded at a rate of $3,120 per year, resulting in a balance in accumulated depreciation of $10,920 at December 31, 2020. The machinery Prepare journal entries to (a) update depreciation for 2021 and (b) record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and...