[loondog76]

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.

[ROLCAM]

You must not expect others to do your work.
Have a go yourself and we shall see what you are capable of.