Beckworth Company Purchased a Truck on January 1, 2013, at a Cash

question 49

Essay

Beckworth Company purchased a truck on January 1, 2013, at a cash cost of $10,600. The estimated residual value was $400 and the estimated useful life 4 years. The company uses straight-line depreciation computed monthly. On July 1, 2016, the company sold the truck for $1,900 cash.
Required:
A. What was the depreciation expense amount per month?
B. What was the amount of accumulated depreciation at July 1, 2016?
C. Prepare the required journal entries on the date of disposal, July 1, 2016. (Assume no 2016 depreciation had yet been recorded)

---

Definitions:

Promotional Customers

Customers who purchase products or services during a promotional campaign, often attracted by discounts or special offers.

Bar Charts

A graphical representation of data using bars of different heights or lengths proportional to the values they represent.

Promotional Customers

Customers who engage with or purchase from a business primarily during promotional campaigns or through special offers.

Multivariate Data

Data involving two or more variables that are analyzed together to understand relationships and interactions between them.