Yoshi company completed the following transactions and events involving its delivery trucks 2016 jan. 1 paid $20,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five dec. 31 recorded annual straight-line depreciation on the truck. 2017 dec. 31 due to new information obtained earlier in the year, the truck's estimated useful life was year life and a $2,000 salvage value. delivery truck costs are recorded in the trucks account. changed from five to four years, and the estimated salvage value was increased to $2,400. re- corded annual straight-line depreciation on the truck. 2018 recorded annual straight-line depreciation on the truck. sold the truck for $5,300 cash. dec. 31 31 required prepare journal entries to record these transactions and events

Depreciation for 2017

Account                             -             Dr             -         Cr

Depreciation expense                 $4900

Accumulated Depreciation                                     $4900

Depreciation for 2018

Account                             -             Dr             -         Cr

Depreciation expense                 $4900

Accumulated Depreciation                                     $4900

Sale of Truck:

Account                                -             Dr             -         Cr

 Cash                                               $5300

Equipment                                                                 $22,000

Accumulated Depreciation             $9800

  (4900*2)

Loss on Sale                                     $6,900        

Explanation:

                              =(20515+1485-2400)/4

                              =$4900

                              =20,515+1,485-4900*2

                              =$12,200

             Gain (loss) = Proceeds - Book value

                                =5,300 -12,200

                               =$6,900

because she sucked. : )

(but so does trump, don't @ me)

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