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Category > Accounting Posted 19 Aug 2017 My Price 4.00

Willow Creek Company

Ex 9-16 Capital expenditure and depreciation

Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $18,000. The carpet is estimated to have a 15-year useful life  and  no  residual value.

a.     Prepare the journal entry necessary for recording the purchase of the new carpet.

b.     Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek Company uses the straight-line method.

 

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Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 09:08 PM My Price 4.00

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