Question
Rhodes national purshased software on october 1, 2015 for $14,400. The company expects to use the software for 3 years. It has no salvage value.
Rhodes national purshased software on october 1, 2015 for $14,400. The company expects to use the software for 3 years. It has no salvage value.
a) What adjusting journal entry should the company make at the end of each month if monthly financials are prepared? ( annual depreciation is $4,800)
b) What balance will be reported on the December 31, 2015 balance sheet for Accumulated Depreciation?
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
