ACC 211 bought furniture for 6,000. The furniture has a useful life of 5 years...
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Accounting
ACC 211 bought furniture for 6,000. The furniture has a useful life of 5 years with salvage value of 500. The double declining balance was used as the method of depreciation
Required
a) Prepare a depreciation schedule for the 5 years
b) Record in general journal format the adjusting entry for the first year
c) Record in general journal format the acquisition of the furniture
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