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Category > Applied Sciences Posted 03 May 2017 My Price 5.00

Sold an electric truck-lift

Sold an electric truck-lift to Leila Stierman Co. for $2,500 cash. The original cost was $7,900 with salvage value of $900, a life of 10 years, and accumulated depreciation recorded through 12311/09 of $4,550. The Straight-line method is used. (Note: the company follows the practice of recording a half year's depreciation in the year of acquisition and a half year in the year of disposal.) First, bring the depreciation expense up to date in the general journal. Then journalize the entire entry for the sale in the cash receipts journal.

Mar 24 2012 12:19 AM

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 03 May 2017 03:05 PM My Price 5.00

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Attachments

file 1493826281-answer1.docx preview (109 words )
S-----------old----------- an----------- el-----------ect-----------ric----------- tr-----------uck------------li-----------ft -----------to -----------Lei-----------la -----------Sti-----------erm-----------an -----------Co.----------- fo-----------r $-----------2,5-----------00 -----------cas-----------h. -----------The----------- or-----------igi-----------nal----------- co-----------st -----------was----------- $7-----------,90-----------0 w-----------ith----------- sa-----------lva-----------ge -----------val-----------ue -----------of -----------$90-----------0, -----------a l-----------ife----------- of----------- 10----------- ye-----------ars-----------, a-----------nd -----------acc-----------umu-----------lat-----------ed -----------dep-----------rec-----------iat-----------ion----------- re-----------cor-----------ded----------- th-----------rou-----------gh -----------123-----------11/-----------09 -----------of -----------$4,-----------550-----------. T-----------he -----------Str-----------aig-----------ht------------lin-----------e m-----------eth-----------od -----------is -----------use-----------d. -----------(No-----------te:----------- th-----------e c-----------omp-----------any----------- fo-----------llo-----------ws -----------the----------- pr-----------act-----------ice----------- of----------- re-----------cor-----------din-----------g a----------- ha-----------lf -----------yea-----------r's----------- de-----------pre-----------cia-----------tio-----------n i-----------n t-----------he -----------yea-----------r o-----------f a-----------cqu-----------isi-----------tio-----------n a-----------nd -----------a h-----------alf----------- ye-----------ar -----------in -----------the----------- ye-----------ar -----------of -----------dis-----------pos-----------al.-----------) F-----------irs-----------t, -----------bri-----------ng -----------the----------- de-----------pre-----------cia-----------tio-----------n e-----------xpe-----------nse-----------
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