Question: presented below are selected transactions at novak company for 2020...
Presented below are selected transactions at Novak Company for
|Jan.||1||Retired a piece of machinery that was purchased on January 1, 2010. The machine cost $64,300 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, 2017. The computer cost $42,300. It had a useful life of 5 years with no salvage value. The computer was sold for $14,700.|
|Dec.||31||Discarded a delivery truck that was purchased on January 1, 2016. The truck cost $42,000. It was depreciated based on a 6-year useful life with a $3,000 salvage value.|