In your working papers:

1. Record the purchase in the general journal, page 4.

2. Record the partial depreciation expense for the first year in the general journal, page 7.

a. Disposal value—$200

b. Estimated useful life—5 years

c. Fiscal year end—December 31.

d. Method—straight-line

3. Record the annual depreciation, one year later, in the general journal, page 13.

Transcribed Image Text:

All Purpose Office Equipment 996 Lake Drive, Sacramento, CA 94203 TO Universal Auto Supply 1422 Central Blvd. Sacramento, CA 94203 ITEM Xerox Copy Machine Serial Number 24X612987 QTY. 1 INVOICE NO. 14492 DATE: June 4, 20-- 22688 UPS TERMS: Cash UNIT PRICE $ 3,200.00 ORDER NO.: SHIPPED BY: Sales Tax Total TOTAL $ 3,200.00 256.00 $ 3,456.00