Here Are Selected 20X3 Transactions of Avery Corporation Avery Corporation Uses Straight-Line Depreciation

question 139

Essay

Here are selected 20X3 transactions of Avery Corporation. $$\begin{array} { | l | l | } \hline \text { Jan. 1 } & \begin{array} { l } \text { Retired a piece of machinery that had been purchased ten years earlier on January 1. } \\\text { The machine cost } \$ 62,000 \text { and had a useful life of } 10 \text { years with no residual value. }\end{array} \\\hline \text { June 30 } & \begin{array} { l } \text { Sold a computer that was purchased on January 1, 20X1. The computer cost } \$ 39,000 \\\text { and had a useful of } 3 \text { years with no residual value. The computer was sold for } \$ 5,000 \\\text { cash. }\end{array} \\\hline \text { Dec. 31 } & \begin{array} { l } \text { Sold a delivery truck for } \$ 9,000 \text { cash. The truck cost } \$ 25,000 \text { when it was purchased } \\\text { on January 1, 20X0, and was depreciated based on a 5-year useful life with a } \$ 3,000 \\\text { residual value. }\end{array} \\\hline\end{array}$$ Avery Corporation uses straight-line depreciation. Required: Prepare all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable.

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Definitions:

Positive Influences

Factors or forces that lead to beneficial outcomes, encouraging growth, improvements, or beneficial changes in behavior.

Negative Influences

These are factors or forces that can lead to adverse outcomes or detrimental effects on a person’s behavior, decisions, or outlook.

Gilligan

Refers to Carol Gilligan, an American feminist, ethicist, and psychologist best known for her work on ethical relationships and moral development, particularly in women.

Lawrence Kohlberg

A psychologist best known for his theory of stages of moral development, which describes how individuals evolve in their understanding of morality.