Question

Jan. 1: Retired a piece of machinery that was purchased on jan 1 2010. the machine cost $63,300 on that date. it had a useful life of 10 years with no salvage value

June 30.:Sold a computer that was purchased on January 1, 2017. The computer cost $45,000. It had a useful life of 5 years with no salvage value. The computer was sold for $14,300.

Dec.

31

Discarded a delivery truck that was purchased on January 1, 2016. The truck cost $34,560. It was depreciated based on a 6-year useful life with a $3,000 salvage value.

(June 30)

Accumulated depreciation-equipment (debit)___________

gain on disposal of plant assets (credit)___________

Dec.31 - depreciation expense (debit)___________

- accumulated depreciation-equipment (credit)__________

- loss on disposal of plant assets (debit)_____________

Answer 1

Date	Title	Debit	Credit
Jan-01	Accumulated depreciation - Machinery	$ 63,300
	Machinery		$ 63,300
Jun-30	Depreciation expenses ($45,000 / 5 * 6/12)	$    4,500
	Accumulated depreciation - Computer		$    4,500
	Cash	$ 14,300
	Accumulated depreciation - Computer (($45,000/5*3)+$4,500)	$ 31,500
	Computer		$ 45,000
	Gain on sale of asset		$        800
Dec-31	Depreciation expense (($34,560 -$3,000)/6*1)	$    5,260
	Accumulated depreciation - Truck		$    5,260
	Accumulated depreciation - Truck (($34,560 -$3,000)/6*4)+$5,260)	$ 26,300
	Loss on disposal of plant assets	$    8,260
	Truck		$ 34,560

You can reach me over comment box if you have any doubts. Please rate this answer