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E10-9 Presented below are selected transactions at Ingles Company

Resolved Question:

E10-9 Presented below are selected transactions at Ingles Company for 2008.
Jan. 1 Retired a piece of machinery that was purchased on January 1,1998.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 1,2005.The computer cost $40,000.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, 2004. The truck cost
$39,000. 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. Ingles Company uses straight-line depreciation. (Assume
depreciation is up to date as of December 31, 2007.)
Submitted: 5 years ago.
Category: Homework
Expert:  Chris M. replied 5 years ago.

Hello, and thanks for the question.

 

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Hope this helps!

Customer: replied 5 years ago.
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Expert:  Chris M. replied 5 years ago.
The link worked for me. Please click here to try again.
Customer: replied 5 years ago.
still nothing
Expert:  Chris M. replied 5 years ago.
Did you try refreshing the page?
Expert:  Chris M. replied 5 years ago.
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