Acc557 Financial Accounting: E9-9 Presented below are selected transactions at Ridge Company

Acc557 Financial Accounting 

E9-9 Journalize entries for disposal of plant assets
Presented below are selected transactions at Ridge Company for 2015.
Jan. 1        Retired a piece of machinery that was purchased on January 1, 2005. The machine cost $62,000 on that date. It had a useful life of 10 years with no salvage value.
June 30   Sold a computer that was purchased on January 1, 2012. The computer cost $45,000. It had a useful life of 5 years with no salvage value. The computer was sold for $14,000.
Dec. 31     Discarded a delivery truck that was purchased on January 1, 2011. The truck cost $33,000. It was depreciated based on a 6-year useful life with a $3,000 salvage value.
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