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  3. er" start time: 06:30 pm / remaining: 63 min. ces

ER" Start Time: 06:30 PM / Remaining: 63 min. CES Question 1 Presented below are...

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Accounting

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ER" Start Time: 06:30 PM / Remaining: 63 min. CES Question 1 Presented below are selected transactions at Marin Company for 2017. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost 59,700 on that date. It had a useful life of 10 years with no residual value. June 30 Sold a computer that was purchased on January 1, 2014. The computer cost 37,840. It had a useful life of 5 years with no residual value. The computer was sold for 13,340. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2013. The truck cost 34,010. It was depreciated based on a 6-year useful life with a 3,770 residual value. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Marin Company uses straight-line depreciation. (Assumed indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit D (To record depreciation) June. 30 (To record the sale of equipment)

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