kizzyb
Feb 25, 2006, 05:35 PM
On Oct 5 Install new wiring throughout the building at a cost of 30,000. It is expected that the life of the building will be extended as a result.
Oct 6 Sold an old truck with the cost of 11,000 and accumulated depreciation prior to the current year of 9,600 for 1,000. Depreciation has been recorded at the rate of 1,800 a year but has not yet been recorded for 20xx.
Oct 10 traded in old office equipment for new office equipment listing at 3200.
The cost of the old equipment was 3,000, and accumulated depreciation through the data of trade was 200. Received a 2,900 trade-in allowance and paid the balance in cash. The accounting method is used.
Oct 17 Purchased for cash a fax machine for the office. The list price was 790 but 15% trade discount eas received.
Oct 31 Recorded depreciationon the truck purcahsed on August 14. The units-of-production method is used. The truck has a useful life od 50,000 miles and a salvage value of 2000. It was driven 1.100 miles in August.
Oct 6 Sold an old truck with the cost of 11,000 and accumulated depreciation prior to the current year of 9,600 for 1,000. Depreciation has been recorded at the rate of 1,800 a year but has not yet been recorded for 20xx.
Oct 10 traded in old office equipment for new office equipment listing at 3200.
The cost of the old equipment was 3,000, and accumulated depreciation through the data of trade was 200. Received a 2,900 trade-in allowance and paid the balance in cash. The accounting method is used.
Oct 17 Purchased for cash a fax machine for the office. The list price was 790 but 15% trade discount eas received.
Oct 31 Recorded depreciationon the truck purcahsed on August 14. The units-of-production method is used. The truck has a useful life od 50,000 miles and a salvage value of 2000. It was driven 1.100 miles in August.