Task 3: Using the Units-of-Production Method - must show work by typing in how you found the amounts for full credit. Just entering the amount gets you partial credit.

On August 23, Holiday Imports purchased a new forklift costing $16,350. The equipment has a salvage value o 150 and an estimated useful life of 45,000 hours. The current fiscal period ended on December 31. During the period the equipment operated approximately 1,100 hours.

1)Using the units-of-production method to calculate depreciation for the fiscal period. Round to the nearest whole dollar. $____________

(5 pts-answer+work)

2)Record the adjusting entry for this year in the General Journal below

General Journal

Date Account Name Post Ref Debit Credit

1

2

3

4

5

6

7