loondog76
Feb 25, 2009, 11:29 PM
i am trying to figure out this problem in accounting.
On Sept 17 Jones florist traded in its old delivery van for a new, which cost 15,000. Jones got a trade in allowance of 3,000 on the old van and paid the difference in cash. The subsidiary account shows the following: cost (of old van)12, 000; accumulated depreciation as of last Dec 31, 9,500; monthly depreciation , 200. without recognizing gain or loss, make entries in general journal form to record the depreciation of the old van to date and to record the trade-in and purchase of the old van to date and to record the trade-in and purchase of the new van.
i just someone to so me how to do this one problem and i should have it down.
On Sept 17 Jones florist traded in its old delivery van for a new, which cost 15,000. Jones got a trade in allowance of 3,000 on the old van and paid the difference in cash. The subsidiary account shows the following: cost (of old van)12, 000; accumulated depreciation as of last Dec 31, 9,500; monthly depreciation , 200. without recognizing gain or loss, make entries in general journal form to record the depreciation of the old van to date and to record the trade-in and purchase of the old van to date and to record the trade-in and purchase of the new van.
i just someone to so me how to do this one problem and i should have it down.