ACC 557 E -9.9 and E9.10 A+++

ACC 557 Week 6 Homework E9-9.Presented below is selected transactions at Ridge Company for 2015.

Jan. 1  	retired a piece of machinery that was purchased on January 1, 2005. The machine cost $62,000 on that date. It had a useful life of 10 years with no salvage value.
June 30  	sold a computer that was purchased on January 1, 2012. The computer cost $45,000. It had a useful life of 5 years with no salvage value. The computer was sold for $14,000.
Dec. 31  	discarded a delivery truck that was purchased on January 1, 2011. The truck cost $33,000. It was depreciated based on a 6-year useful life with a $3,000 salvage value.
Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Ridge Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2016.)

E9-10 Pryce Company owns equipment that cost $65,000 when purchased on January 1, 2014. It has been depreciated using the straight-line method based on an estimated salvage value of $5,000 and an estimated useful life of 5 years

Instructions
Prepare Pryce Company- journal entries to record the sale of the equipment in these four independent situations.
a)	Sold for $31,000 on January 1, 2015.
b)	Sold for $31,000 on May 1, 2015.
c)	Sold for $11,000 on January 1, 2015.
d)	Sold for $11,000 on October 1, 2015.