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Here are selected 2022 transactions of Ayayai Company. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,000 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $39,000 and had a useful life of 5 years with no salvage value. The computer was sold for $15,900 cash. Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $38,340. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Ayayai Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Here are selected 2022 transactions of Ayayai Company. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,000 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $39,000 and had a useful life of 5 years with no salvage value. The computer was sold for $15,900 cash. Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $38,340. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Ayayai Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jan. 1 June 30 June 30 v Dec. 31 Dec. 31 Accumulated Depreciation-Equipment Equipment Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation to date of disposal) Cash Accumulated Depreciation-Equipment Gain on Disposal of Plant Assets Equipment (To record sale of computer) Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation to date of disposal) Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment 63000 15900 5890 29450 8890 63000 AUTO 39000 5890 38340
Transcribed Image Text:Jan. 1 June 30 June 30 v Dec. 31 Dec. 31 Accumulated Depreciation-Equipment Equipment Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation to date of disposal) Cash Accumulated Depreciation-Equipment Gain on Disposal of Plant Assets Equipment (To record sale of computer) Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation to date of disposal) Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment 63000 15900 5890 29450 8890 63000 AUTO 39000 5890 38340
Here are selected 2022 transactions of Ayayai Company. Jan. 1 June 30 Dec. 31 Date Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,000 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $39,000 and had a useful life of 5 years with no salvage value. The computer was sold for $15,900 cash. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Ayayai Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $38,340. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Account Titles and Explanation Accumulated Depreciation-Equipment Equipment Debit 63000 Credit 63000
Transcribed Image Text:Here are selected 2022 transactions of Ayayai Company. Jan. 1 June 30 Dec. 31 Date Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,000 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $39,000 and had a useful life of 5 years with no salvage value. The computer was sold for $15,900 cash. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Ayayai Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $38,340. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Account Titles and Explanation Accumulated Depreciation-Equipment Equipment Debit 63000 Credit 63000
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June 30, depreciation expense, 3900 was wrong, I tried.

June 30, for the "record sale of computer" part, should 3600 be in the credit part? Since space for debit is blocked. 

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