E9-9.Presented below are selected transactions at Ridge Company for 2015.

E9-9.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.

Instructions
Journalize
all entries required on the above dates, including entries to update
depreciation, where applicable, on assets disposed of. Ridge Company uses
straight-line depreciation. (Assume depreciation is up to date as of December
31, 2014.)

 

 

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