Business, 22.02.2021 19:10, ticklepink05

Here are selected 2017 transactions of Marigold Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $63,000 and had a useful life of 10 years with no salvage value.
June 30 Sold a computer that was purchased on January 1, 2015. The computer cost $37,000 and had a useful life of 4 years with no salvage value. The computer was sold for $6,000 cash.
Dec. 31 Sold a delivery truck for $9,130 cash. The truck cost $24,500 when it was purchased on January 1, 2014, and was depreciated based on a 5-year useful life with a $3,400 salvage value.

Required:
Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable.

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answered: kitttimothy55

Date Account and explanation Debit$ Credit$

Jan 1 Accumulated depreciation-Machine 63000

Machine 63000

June 30 Depreciation expense (37000/4)*6/12 4625

Accumulated depreciation-Computer 4625

(To record Dep)

June 30 Cash 6000

Accumulated depreciation-Computer 23125

(37000/4*2.5)

Loss on sale of computer 7875

Computer 37000

(To record sale of computer)

Dec 31 Depreciation expense (24500-3400/5) 4220

Accumulated depreciation-Delivery truck 4220

(To record Depreciation)

Dec 31 Cash 9130

Accumulated dep-Delivery truck 16880

Gain on sale of delivery truck 1510

Delivery truck 24500

(To record sale of computer)

answered: Guest

The advantage of administering personality tests on employees is that it will allow the employer to know the mindset and personality of the employee. this will allow the employer to at least have an idea as to how the employee works and how his attitude in the workplace. the disadvantage is that it may make the employee a little anxious as to whether he would meet the personality requirements of the employer and whether he would be able to retain the job or not.

answered: Guest

answerpounds of plastic to purchase 200+60-20=(240);

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Here are selected 2017 transactions of Marigold Corporation. Jan. 1 Retired a piece of machinery th...