(L.OBJ. 2. 3) Lump sum asset purchases and partial year depreciation [20—25 min]
Whitney Plumb 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, Whitney Plumb completed the following transactions:
Requirement
1. Record the transactions in the journal of Whitney Plumb Associates. The company ends its accounting year on December 31.
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