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  • Yoshi Company Completed The Following Transactions and Events Involving Its

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    Yoshi Company purchased a delivery truck in January 2016 for $20,515 plus $1,485 in sales tax, with an estimated five-year life and $2,000 salvage value. In December 2016 and 2017, Yoshi recorded annual straight-line depreciation on the truck. In 2017, the estimated life was changed to four years and salvage value to $2,400. In December 2018, depreciation was recorded and the truck was sold for $5,300.

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    Yoshi Company purchased a delivery truck in January 2016 for $20,515 plus $1,485 in sales tax, with an estimated five-year life and $2,000 salvage value. In December 2016 and 2017, Yoshi recorded annual straight-line depreciation on the truck. In 2017, the estimated life was changed to four years and salvage value to $2,400. In December 2018, depreciation was recorded and the truck was sold for $5,300.

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    16 views1 page

    Yoshi Company Completed The Following Transactions and Events Involving Its

    Uploaded by

    trilocksp Singh
    Yoshi Company purchased a delivery truck in January 2016 for $20,515 plus $1,485 in sales tax, with an estimated five-year life and $2,000 salvage value. In December 2016 and 2017, Yoshi recorded annual straight-line depreciation on the truck. In 2017, the estimated life was changed to four years and salvage value to $2,400. In December 2018, depreciation was recorded and the truck was sold for $5,300.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Yoshi Company completed the following transactions and

    events involving its


    Yoshi Company completed the following transactions and events involving its

    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-year life and a $2,000 salvage value. Delivery truck costs are recorded in the Trucks
    account.
    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
    changed from five to four years, and the estimated salvage value was increased to $2,400.
    Recorded annual straight-line depreciation on the truck.
    2018
    Dec. 31 Recorded annual straight-line depreciation on the truck.
    31 Sold the truck for $5,300 cash.
    Required
    Prepare journal entries to record these transactions and events.

    Yoshi Company completed the following transactions and events involving its
    SOLUTION-- http://solutiondone.online/downloads/yoshi-company-completed-the-following-
    transactions-and-events-involving-its/

    Unlock answers here solutiondone.online

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