Oriole company had the following assets on january 1, 2022.
item cost purchase date use...
Business, 14.11.2019 23:31, psychocatgirl1
Oriole company had the following assets on january 1, 2022.
item cost purchase date useful life
(in years) salvage value
machinery
$74,000 jan. 1, 2012 10 $ 0
forklift
33,000 jan. 1, 2019 5 0
truck
39,400 jan. 1, 2017 8 3,000
during 2022, each of the assets was removed from service. the machinery was retired on january 1. the forklift was sold on june 30 for $12,300. the truck was discarded on december 31.
journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. the company uses straight-line depreciation. all depreciation was up to date as of december 31, 2021. (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 account titles and enter 0 for the amounts.
to record depreciation expense on forklift
to record sale of forklift
to record depreciation expense on truck
to record sale of truck
Answers: 2
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