Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Oriole Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021). (Crea account titles are automatically indented when amount is entered. Do not indent manually Plicord journal entries in the order presented in the problem. If no entry is required, select

Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Oriole Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021). (Crea account titles are automatically indented when amount is entered. Do not indent manually Plicord journal entries in the order presented in the problem. If no entry is required, select

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter10: Long-lived Tangible And Intangible Assets

Section: Chapter Questions

Problem 26E

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Presented below are selected transactions at Marigold Corp. for 2020. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2010. The machine cost $64,600 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, 2017. The computer cost $37,800. It had a useful life of 5 years with no salvage value. The computer was sold for $13,600. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2016. The truck cost $40,440. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Marigold Corp. uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2019.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order…
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