(L.OBJ. 2, 3) Lump sum asset purchases and partial year depreciation [20—25 min]
Guilda Bell Associates surveys American eating habits. The company’s accounts include Land, Buildings, Office equipment, and Communication equipment, with a separate accumulated depreciation account for each asset. During 2011, Bell completed the following transactions:
Requirement
1. Record the transactions in the journal of Guilda Bell Associates. Bell ends its accounting year on December 31.
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