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