Here are selected 2022 transactions of Riverbed Company. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost S63.000 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1. 2019. The computer cost $40,300 and had a useful life of 5 years with no salvage value. The computer was sold for $15,100 cash. Dec 31 Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $33,780. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Riverbed Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

Here are selected 2022 transactions of Riverbed Company. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost S63.000 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1. 2019. The computer cost $40,300 and had a useful life of 5 years with no salvage value. The computer was sold for $15,100 cash. Dec 31 Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $33,780. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Riverbed Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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Description: Here are selected 2022 transactions of Riverbed Company.Jan.1Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $63,000 and had a useful lifeof 10 years with no salvage value.June 30Sold a computer that was purchase

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter10: Long-lived Tangible And Intangible Assets

Section: Chapter Questions

Problem 29P

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