Presented here are selected transactions for Ivanhoe Limited for 2018. Ivanhoe uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sept. 1 Dec. 30 Sold a delivery truck for $19,480 cash. The truck cost $63,080 when it was purchased on January 1, 2015, and was depreciated based on a four-year useful life with a $5,600 residual value. Sold computers that were purchased on January 1, 2016. They cost $11,754 and had a useful life of three years with no residual value. The computers were sold for $450 cash. Retired equipment that was purchased on January 1, 2009. The equipment cost $148,100 and had a useful life of 10 years with no residual value. No proceeds were received.

Presented here are selected transactions for Ivanhoe Limited for 2018. Ivanhoe uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sept. 1 Dec. 30 Sold a delivery truck for $19,480 cash. The truck cost $63,080 when it was purchased on January 1, 2015, and was depreciated based on a four-year useful life with a $5,600 residual value. Sold computers that were purchased on January 1, 2016. They cost $11,754 and had a useful life of three years with no residual value. The computers were sold for $450 cash. Retired equipment that was purchased on January 1, 2009. The equipment cost $148,100 and had a useful life of 10 years with no residual value. No proceeds were received.

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Description: Plz do not provide answer in image Presented here are selected transactions for Ivanhoe Limited for 2018. Ivanhoe uses straight-line depreciation and recordsadjusting entries annually.Jan. 1Sept. 1Dec. 30Sold a delivery truck for $19,480 cash. The tr

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 2AP

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