Question

Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $18,000. The carpet is estimated to have a 15-year useful life and no residual value.
a. Prepare the journal entry necessary for recording the purchase of the new carpet.
b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek Company uses the straight-line method.



$1.99
Sales1
Views757
Comments0
  • CreatedFebruary 28, 2014
  • Files Included
Post your question
5000