ACC 280 E10-9 Presented below are selected transactions at Ingles Company for 20

ACC 280 E10-9 Presented below are selected transactions at
Ingles Company for 2008. Jan. 1 Retired XACC 280 E10-9 Presented below are selected transactions at
Ingles Company for 2008. Jan. 1Principles of Accounting: Weygandt J. J. Kimmel P. D.
& Kieso D. E. (2008). Financial Accounting (6th ed.). Hoboken NJ: Wiley.Axia College of University of Phoenix (UoP)Homework help in ACC 280 E10-9 Presented below are selected
transactions at Ingles Company forHomework tutorial of ACC 280 E10-9 Presented below are
selected transactions at Ingles CompanyHomework solution of ACC 280 E10-9 Presented below are
selected transactions at Ingles CompanyE10-9 Presented below are selected transactions at Ingles
Company for 2008. Jan. 1 Retired a piece of machinery that was purchased on
January 1 1998.The machine cost $62000 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 2005.The computer cost $40000. It had a useful life of 5 years with
no salvage value. The computer was sold for $14000. Dec. 31 Discarded a
delivery truck that was purchased on January 1 2004. The truck cost $39000.
It was depreciated based on a 6-year useful life with a $3000 salvage value.
Instructions Journalize entries for disposal of plant assets. Journalize all entries required on the above
dates including entries to update depreciation where applicable on assets
disposed of. Ingles Company uses straight-line depreciation. (Assume
depreciation is up to date as of December 31 2007.)