Question

Norton Corporation manufactures model airplanes. The company purchased for $190,000 automated production equipment that can make the model parts. The equipment has a $10,000 salvage value and a 10-year useful life.

Required
a. Assuming that the equipment was purchased on January 1, record in T-accounts the adjusting entry that the company would make on December 31 to record depreciation on equipment.
b. In which month would the depreciation costs be assigned to units produced?



$1.99
Sales9
Views308
Comments0
  • CreatedFebruary 07, 2014
  • Files Included
Post your question
5000