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Truck Depreciation and Expenses Overview

The document records transactions related to delivery trucks over 3 years. In year 1, a truck was purchased for $28,000 and depreciation of $14,000 was recorded. In year 2, a new truck was purchased for $48,000, the original was sold for $28,000 realizing a $2,750 gain, and depreciation of $19,200 was recorded on the new truck. In year 3, another truck was purchased for $54,000, the second truck was sold for $48,000 realizing a $3,410 loss, and depreciation of $8,640 and $6,750 was recorded.

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95 views3 pages

Truck Depreciation and Expenses Overview

The document records transactions related to delivery trucks over 3 years. In year 1, a truck was purchased for $28,000 and depreciation of $14,000 was recorded. In year 2, a new truck was purchased for $48,000, the original was sold for $28,000 realizing a $2,750 gain, and depreciation of $19,200 was recorded on the new truck. In year 3, another truck was purchased for $54,000, the second truck was sold for $48,000 realizing a $3,410 loss, and depreciation of $8,640 and $6,750 was recorded.

Uploaded by

Paskalis ariel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd

PR 10-5A

Year 1
Jan-04 Delivery Truck 28,000
Cash 28,000
Nov-04 Truck Repair Expense 675
Cash 675
Dec-31 Decpreciation Expense- Truck 14000
Accumulated Depreciation - Truck 14000
Year 2
Jan-06 Delivery Truck 48,000
Cash 48,000
Apr-01 Depreciation Expense - Truck 1750
Accumulated Depreciation - Truck 1750
Cash 15,000
Accumulated Depreciation - Truck 15750
Delivery Truck 28,000
Gain on Sales 2,750
Jun-11 Truck Repair Expense 450
Cash 450
Dec-13 Depreciation Expense - Truck 19200
Accumulated Depreciation - Truck 19200
YEAR 3
July 1 Delivery Truck 54,000
Cash 54,000
Oct 2 Depreciation Expense - Truck 8640
Accumulated Depreciation - Truck 8640
Cash 16750
Accumulated Depreciation - Truck 27840
Loss on Sales 3,410
Delivery Truck 48,000
Dec 31 Depreciation Expense - Truck 6750
Accumulated Depreciation - Truck 6750
YEAR 1
Jan-04 Delivery Truck 24,000
Cash 24,000
Nov-04 Truck Repair Expense 900
Cash 900
Dec-31 Decpreciation Expense- Truck 12000
Accumulated Depreciation - Truck 12000

Year 2
Jan-06 Delivery Truck 50,000
Cash 50,000
Feb-28 Truck Repair Expense 250
Cash 250
Apr-30 Depreciation Expense - Truck 2000
Accumulated Depreciation - 2000
Cash 9,500
Accumulated Depreciation - Truck 14000
Loss on Sales 500
Delivery Truck 24,000
Dec 31 Decpreciation Expense- Truck 12500
Accumulated Depreciation - Truck 12500
24,000

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