Business, 16.04.2020 15:34 biasmi70

Oriole Company had the following assets on January 1, 2022.

Item Cost Purchase Date Useful Life (in years) Salvage Valu
Machinery $74,000 Jan. 1, 2012 10 $ 0
Forklift 33,000 Jan. 1, 2019 5 0
Truck 39,400 Jan. 1, 2017 8 3,000

During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $12,300. 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, 2021

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Oriole Company had the following assets on January 1, 2022.

Item Cost Purchase Date Usef...

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