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dc2015
Nov 11, 2015, 06:02 PM
I need help to journal this problem on the general journal:

Night purchased a surround sound system and big screen TV with a digital satellite system for the guest lounge. The surround sound sys. Cost $3,600, had a estimate useful life of 5 years and no salvage value. The TV cost $8,000 and has an estimate useful life value of 8 years, salvage value is $800. Night paid cash for both items.

101 Cash
182 Surround sound sys.
182.1 Accum. Depr-Surrd And Sys
183 Big Screen TV
183.1 Accu. D.-Big Scn Tv
541 Depr Exp- SSS
543 Depr. Exp- Big S. TV
546 Satellite program sys.

paraclete
Nov 11, 2015, 07:44 PM
There is essential information and non essential information. Assuming you are not required to make journal entries for the next 8 years the only thing you are concerned with how much you actually paid and what the first year's depreciation might be

pready
Nov 18, 2015, 02:29 PM
How would you do the journal entry to purchase the 2 items. Since both items have a useful life you would be purchasing an asset.