Question
Q8. Use the following information to answer Q8a & 8b. On June 30, 2019, ABC Co. paid $145,000 for a fork-lift truck. ABC estimate the
Q8. Use the following information to answer Q8a & 8b.
On June 30, 2019, ABC Co. paid $145,000 for a fork-lift truck. ABC estimate the truck has an 8-year life and a residual value of $15,000.
Q8a. Journalize the Dec 31, 2019 adjusting entry [1 mark].
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Q8b. Determine the book value of the truck as at Dec 31, 2020 [1 mark].
Show plausible calculations to get credit.
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| Answer: The trucks book value is $ |
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Value Averaging The Safe And Easy Strategy For Higher Investment Returns
Authors: Michael E. Edleson
1st Edition
0470049774, 978-0470049778
