Reference no: EM131290435
Johnson Inc. uses three plant asset accounts: Office Equipment, Store Equipment and Warehouse Equipment. Journalize the transactions below.
20X1
Jan 2? Paid cash for office file cabinet $700. Estimated salvage value, $100. Estimated useful life, 5 years.
Jan 3? Bought office word processor on account from Darst, Inc. $500. No estimated salvage value. Estimated useful life, 5 years.
Apr 4? Bought hand truck for warehouse on account from Boeser, Inc. $100. Estimated salvage value, $25. Estimated useful life, 5 years.
May 1? Paid cash for used truck to be used between warehouses, $8500. Estimated salvage value, $1,000. Estimated useful life, 5 years.
July 1? Paid cash for store shelving $500. Estimated salvage value, $25. Estimated useful life 10 years.
20X5
Jan 21? An office word processor was no longer being used. It was discarded.
20X6
Jan 28? Discarded office file cabinet
Mar 29? Received cash for sale of hand truck, $10
Dec 31? Received cash for sale of store shelving, $250.
Dec 31? Paid $8,000 in cash plus old truck for new truck.
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