Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. here are selected 2025 transactions of pronghorn c

Here are selected 2025 transactions of Pronghorn Corporation. Jan. 1 Retired a piece of machinery...

60.1K

Verified Solution

Question

Accounting

image Here are selected 2025 transactions of Pronghorn Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1,2015. 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, 2023. The computer cost $35,400 and had a useful life of 4 years with no salvage value. The computer was sold for $5,600 cash. Dec. 31 Sold a delivery truck for $9,280 cash. The truck cost $25,000 when it was purchased on January 1,2022 , and was depreciated based on a 5 -year useful life with a $3,700 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pronghorn Corporation uses straight-line depreciation. (List all debit entries before credit entries. Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students