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Teaching Since:	May 2017
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Argosy University/ Phoniex University/
Nov-2005 - Oct-2011

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Phoniex University
Oct-2001 - Nov-2016

Category > Management Posted 08 Apr 2018 My Price 8.00

Ayayai Corporation

Here are selected 2017 transactions of Ayayai Corporation.

Jan. 1		Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $62,200 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 $36,800 and had a useful life of 4 years with no salvage value. The computer was sold for $4,100 cash.
Dec. 31		Sold a delivery truck for $9,490 cash. The truck cost $24,900 when it was purchased on January 1, 2014, and was depreciated based on a 5-year useful life with a $3,800 salvage value.

Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Ayayai Corporation uses straight-line depreciation. (Record entries in the order displayed in the problem statement. 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 enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

June 30Dec. 31Jan. 1

(To record depreciation expense for 2017)

(To record sale of computer)

Jan. 1June 30Dec. 31

(To record depreciation expense for 2017)

(To record sale of delivery truck)

Answers

Maurice Tutor

(5)

Status NEW Posted 08 Apr 2018 06:04 AM My Price 8.00

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