Your answer is The following transactions occurred during 2023. Assume that depreciation of 10% per year is charged on a

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Your Answer Is The Following Transactions Occurred During 2023 Assume That Depreciation Of 10 Per Year Is Charged On A 1 (31.47 KiB) Viewed 34 times

Your answer is The following transactions occurred during 2023. Assume that depreciation of 10% per year is charged on all machinery and 5% per year on buildings, on a straight-line basis, with no estimated residual value. Depreciation is charged for a full year on all foed assets acquired during the year, and no depreciation is charged on foxed assets disposed of during the year. Jan. 30 Mar. 10 Mar. 20 May 18 is partially correct. June 23 A building that cost $103,040 in 2006 is torn down to make room for a new building. The wrecking contractor was paid $4,680 and was permitted to keep all materials salvaged Machinery that was purchased in 2016 for $14,720 is sold for $2.680 cash, tob purchaser's plant. Freight of $300 is paid on the sale of this machinery. A gear breaks on a machine that cost $8,280 in 2018. The gear is replaced at a cost of $2,760. The replacement does not extend the useful life of the machine. A special base installed for a machine in 2017 when the machine was purchased has to be replaced at a cost of $5,060 because of defective workmanship on the original base. The cost of the machinery was $13.040 in 2017. The cost of the base was $3,680, and this amount was charged to the Machinery account in 2017. One of the buildings is repainted at a cost of $6.360. It had not been painted since it was constructed in 2019 Prepare general journal entries for the transactions. (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Question 2 Question 3 Motery Question 4 Question 5 Question d Viewing Questie Question Dreporter Questions Question 10