Oriole Company had the following assets on January 1, 2017. Item Cost Purchase Date Useful Life...

Oriole Company had the following assets on January 1, 2017. Item Cost Purchase Date Useful Life (in years) Salvage Value Machinery $75,260 Jan. 1, 2007 10 $ 0 Forklift 31,800 Jan. 1, 2014 5 0 Truck 35,408 Jan. 1, 2012 8 3,184 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $12,720. The truck was discarded on December 31. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2016. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

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ekkarill92 answered 1 year ago

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