On July 1, 2007, Red Gate Farm buys a combine for $100,000 in bread. Assume that the combine is expected to have a seven-year life span and an estimated salvage value of $16,000 at the shutting down of that time.
4. prepare the adjusting entry to dictation depreciation at the end of july 2007.
5. compute the combine's carrying helpfulness that will be shown on red gate go together sheet prepared on december 31, 2007.
Answers: Wow, that's the third yahoo id posting the exact same press in a week.
This is not insurance. It's accounting. Either post to homework minister to, or find Oscar's question, email him, and see what he terminated up putting down.
The amount to be depreciated over 7 years is 84,000 (100,000 purchase price minus 16,000 salvage value).
The depreciation would be 12,000 per year, or 1,000 per month. The journal entries for this would be a debit to Combine-accumulated depreciation and a credit to depreciation expense. This entry would be done monthly for 1,000.
The carrying significance at year end would be purchase price minus accumulate deprecation (100,000 - 6,000 (jul-dec)), or 94,000.
Good luck.
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4. prepare the adjusting entry to dictation depreciation at the end of july 2007.
5. compute the combine's carrying helpfulness that will be shown on red gate go together sheet prepared on december 31, 2007.
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Answers: Wow, that's the third yahoo id posting the exact same press in a week.
This is not insurance. It's accounting. Either post to homework minister to, or find Oscar's question, email him, and see what he terminated up putting down.
They didn't form me reward contained by the emergency room but I know I hold copay?
The amount to be depreciated over 7 years is 84,000 (100,000 purchase price minus 16,000 salvage value).
The depreciation would be 12,000 per year, or 1,000 per month. The journal entries for this would be a debit to Combine-accumulated depreciation and a credit to depreciation expense. This entry would be done monthly for 1,000.
The carrying significance at year end would be purchase price minus accumulate deprecation (100,000 - 6,000 (jul-dec)), or 94,000.
Good luck.
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