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Unformatted text preview: $0 Overhaul # 6: Cost : $20,000 Less: Accumulated Depreciation: ($16,400) Net book value $3,600 On January 1, 2011, after the driver had reported problems with the truck's engine, a decision was made to do an early overhaul (i.e. 9,000 km prior to the next scheduled overhaul). The overhaul was completed on January 7, 2011 at a cost of $28,000. Because of a slowdown in the economy, the truck only operated for 21,000 km for the remainder of 2011. Instructions Prepare the appropriate journal entries for 2011 relating to the truck's overhaul....
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This note was uploaded on 11/27/2011 for the course ACCOUNTING 21646 taught by Professor Mac during the Spring '11 term at Sheridan College.
- Spring '11