Question: 8. As the name connotes, is not an exact measurement but merely an estimation of number of years an asset can be useful to the

8. As the name connotes, is not an exact measurement but

8. As the name connotes, is not an exact measurement but merely an estimation of number of years an asset can be useful to the entity. 9. Is the purchase price of the depreciable asset. 10. is the estimated value of the asset at the end of its useful life. COMPUTE THE FOLLOWING ADJUSTING ENTRIES (SHOW THE DETAIL COMPUTATION) Il.a. PREPAYMENTS 1. On August 30, 2017, Ms. Cianar paid Php 48,000 worth of insurance premium for three years. Give the Adjusting Journal Entry on Dec 31, 2017 Journal Entry upon payment on August 30, 2017 DATE ACCOUNT TITLE and EXPAINATION DR CR Journal Entry upon payment on Dec. 31,2017 DATE ACCOUNT TITLE and EXPAINATION DR CR OO REDMI NOTE 8 O AI QUAD CAMERA

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