Ariel Tax Planning Service has the following plant assets: Communications equipment: Cost, $8,640 with useful life of 8 years; Furniture: Cost, $18,000 with useful life of 12 years; and Computer: Cost, $13,440 with useful life of 4 years
Assume the residual value of all the assets is zero and the straight-line method is used.
Ariel's monthly depreciation journal entry will include a ________.
A) debit to Depreciation Expense of $5,940
B) credit to Depreciation Expense of $5,940
C) debit to Accumulated Depreciation of $495
D) credit to Accumulated Depreciation of $495
D .Straight-line depreciation = (Cost - Residual value) / Useful life
Straight-line depreciation for:
You might also like to view...
__________have the longest product life cycles
Fill in the blanks with correct word.
The severalty owner of a parcel of land sells it to a buyer. The buyer insists that the owner's wife join in signing the deed. The purpose of obtaining the wife's signature is to
A) waive any marital or homestead rights. B) defeat any curtesy rights. C) provide evidence that the owner is married. D) satisfy the parol evidence rule