Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Finance & Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=411)
-   -   How can I calculate and journalize amortization? (https://www.askmehelpdesk.com/showthread.php?t=741848)

  • Mar 30, 2013, 03:58 PM
    austass
    How can I calculate and journalize amortization?
    I need some help calculating amortization for the following question and journalizing the entry.

    On Sept 10 2012, Company purchased 2 cash registers on account. Each cost $800 and had a resale value of $1100 each.
    They have a useful life of 3 years.
    Store furniture ($15000 with $4000 accumulated amortization) and store equipment($20000 with $8000 accumulated amortization) were purchased on Oct 1, 2007.
    Furniture have a useful life of 15 years and store equipment have a useful life of 10 years.
    Depreciation has not been recorded this year.

  • All times are GMT -7. The time now is 08:30 AM.