Question
Please help with making journal entries for these! Thanks! (Do as much as you can, no need to do all) 1.Depreciation on the showroom/office building
Please help with making journal entries for these! Thanks! (Do as much as you can, no need to do all) 1.Depreciation on the showroom/office building and the distribution center building (average life is 10 years, no salvage value, straight line depreciation) (Building cost= 140,000)
2. Depreciation on the office equipment (average life is 5 years, no salvage value, straight line depreciation (Office cost=1,337.00)
3.Depreciation on the vehicles (average life is 8 years, no salvage value, straight line depreciation)(Vehicle=42,100.00)
4.Depreciation on the new computer Marys Sunshine wants to use straight-line depreciation with a 3-year life and no salvage value
(It was purchased at Computer World for $14,000 including sales tax. This amount should be charged to a Computer Equipment account. $2800 is paid on delivery and a no interest note is signed for two installments one on 12/31/ CRYR and the second 12/31, a year later)
5. Accrued interest expense on the mortgage= 926.26
6. Expired insurance (1 year policy)
Prepaid Insurance=$1,782.00
7.Bank Service Charges=55.00
8.Estimate and accrue Corporate Income Tax expense at 15%
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