Question
Task 3: Using the Units-of-Production Method - must show work by typing in how you found the amounts for full credit. Just entering the amount
Task 3: Using the Units-of-Production Method - must show work by typing in how you found the amounts for full credit. Just entering the amount gets you partial credit.
On August 23, Holiday Imports purchased a new forklift costing $16,350. The equipment has a salvage value o 150 and an estimated useful life of 45,000 hours. The current fiscal period ended on December 31. During the period the equipment operated approximately 1,100 hours.
1)Using the units-of-production method to calculate depreciation for the fiscal period. Round to the nearest whole dollar. $____________
(5 pts-answer+work)
2)Record the adjusting entry for this year in the General Journal below
General Journal
Date Account Name Post Ref Debit Credit
1
2
3
4
5
6
7
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