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adjusting entries depreciation
a) The Cabins which have a useful life of 25 years and were valued at $424, 000
of the $624, 000 for land and cabins, need to have 1 month's depreciation expense and offset against Accumulated Depreciation (Cabin) - a contra-asset account. b) The Troop Carrier is to be depreciated over 10 years and needs the depreciation expense allowed for (in a manner similar to the cabins) c) The Computer equipment is to be written off over 4 years. e) The office furniture will be written off over 10 years. f) At the end of July a count indicated that there was $310 remaining of the Office Supplies. |
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