ok nt nces Year 1 January 1 December 31 Paid 25 015 cash

Last updated: 9/19/2023

ok nt nces Year 1 January 1 December 31 Paid 25 015 cash plus 1 785 in sales tax for a new delivery truck estimated to have a five year life and a 2 000 salvage value Delivery truck costs are recorded in the Trucks account Recorded annual straight line depreciation on the truck Year 2 December 31 The truck s estimated useful life was changed from five to four years and the estimated salvage value was increased to 2 850 Recorded annual straight line depreciation on the truck Year 3 December 31 Recorded annual straight line depreciation on the truck December 31 Sold the truck for 5 400 cash Required 1 a Calculate depreciation for Year 2 1 b Calculate book value and gain loss for sale of Truck on December 31 Year 3 1 c Prepare journal entries to record these transactions and events Complete this question by entering your answers in the tabs below Required 1A Required 1B Required 1C Check my Calculate depreciation for Year 2 Total cost Less accumulated depreciation from Year 1 Book value