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in unadjusted trial balance, freehold land (at cost) is 148,000, office building (at cost) is 360,000, accumulated depreciation -office building of 86,400 and administrative expense
in unadjusted trial balance, freehold land (at cost) is 148,000, office building (at cost) is 360,000, accumulated depreciation -office building of 86,400 and administrative expense is 45,300
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It is the companys policy to use the cost model for freehold land and building, and to depreciate office building on a straight-line basis. The useful life of office building is 25 years with no salvage value. Depreciation expense is allocated as administrative expense. No entry was made for the 2019 depreciation. |
What will be the adjusting entries?
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