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what I am doing wrong Novomhar and nonomhor Trancantinne g. Determine the depreciation on the canoes purchased on November 3 using straight-line depreciation. Assume the

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image text in transcribed Novomhar and nonomhor Trancantinne

g. Determine the depreciation on the canoes purchased on November 3 using straight-line depreciation. Assume the useful life of the canoes is 4 years and the residual value is $0. (No depreciation has been recorded on these canoes to date.) Date Dec. Adj. (g) Accounts and Explanation 31 Depreciation ExpenseCanoes Accumulated DepreciationCanoes To record depreciation on canoes. Debit 1200 Credit 1200 November and December Transactions Nov. 1 Nov. 2 Nov. 3 Nov. 4 Received $16,000 cash to begin the company and issued ( Amber and Zack. Signed a lease for a building and paid $1 ,200 for the first n Purchased canoes for $4,800 on account. Purchased supplies on account, $750.

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