On January 1, 2011, Vango,Inc bought a delivery van that cost $25,000, expecting to use the van for five years with no residual value
Prepare the adjusting journal entry at December 31, 2011 to record one year's use of the van, using straight-line depreciation.
Date Transaction Debit Credit
Date Transaction Debit Credit
12/31/11 Depreciation expense 5,000
Accumulated depreciation 5,000
To record depreciation
Business
You might also like to view...
The ________ section of a business plan provides an overview of complementary products and services and a summary of the strengths and weaknesses of your direct and indirect competitors .
a. market analysis b. operations and management c. financial analysis d. product or service description
Business
Contracts that have an illegal object are voidable
Indicate whether the statement is true or false
Business