Do It! Review 9-2 On January 1, 2015, Emporia Country Club purchased a new riding mower...
Do It! Review 9-2
On January 1, 2015, Emporia Country Club purchased a new riding
mower for $27,800. The mower is expected to have an 8-year life
with a $2,400 salvage value.
What journal entry would Emporia make at December 31, 2015, if it
uses straight-line depreciation? (If no entry is
required, select "No entry" for the account titles and enter 0 for
the amounts. Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
|
Account Titles and Explanation |
Debit |
Credit |
|
|
|
|
|
|
|
|
| (To record annual depreciation on mower) |
Homework Answers
| Account | Debit | Credit |
|---|---|---|
| Depreciation expense | 3175 | |
| Accumulated Depreciation - mower | 3175 | |
| (to record annual depreciation) |
(27,800 - 2,400)/8 years
Add Answer to:
Do It! Review 9-2
On January 1, 2015, Emporia Country Club purchased a new riding
mower...
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Exercise 11-16
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Machinery purchased for $49,400 by Indigo Corp. on January 1,
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financial statement...
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