Here are selected 2010 transactions of Falk Corporation.
|
Jan. |
1 |
Retired a piece of machinery that was purchased on January 1, 2000. The machine cost $62,000 and had a useful life of 10 years with no salvage value. |
|
June |
30 |
Sold a computer that was purchased on January 1, 2008. The computer |
|
Dec. |
31 |
Sold a delivery truck for $9,000 cash. The truck cost $25,000 when it |
Instructions
Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Falk Corporation uses straight line depreciation.