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    shermah's Avatar
    shermah Posts: 3, Reputation: 1
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    #1

    Jun 3, 2008, 04:35 PM
    accumulated depreciation
    Adjusting entries for Dec. 2007

    The buildings have a $10,000 residual value and a 40-year useful life. The straigh-line depreciation method is used. The building was purchased on July 6, 2006.


    Please, does anyone know how to work this problem?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jun 3, 2008, 07:27 PM
    Yes, but we're not here to do your homework for you. Please see our guidelines about submitting homework:

    https://www.askmehelpdesk.com/financ...-b-u-font.html

    S/L depreciation = (cost-residual)/useful life. But that equation should be in your book. I'm also not quite sure what you actual question is. You've titled it accumulated depreciation, but then wrote adjusting entries on the post. What are you actually trying to do?
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