Eli Johnson associates service American eating habits the companies accounts include land buildings office equipment...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Eli Johnson associates service American eating habits the companies accounts include land buildings office equipment and communication equipment with a separate accumulated depreciation account for each depreciable asset during 2024 Eli Johnson associates completed the following transactions purchased office equipment $113,000 paid $80,000 cash and finance remainder with a note payable acquired land and communication equipment in a lump sum purchase total cost was $310,000 paid in cash and independent appraisal value the land at $244,125 and the communication equipment at $81,375 Record depreciation on the office equipment office equipment is depreciate it using the double declining balance method over five years with $1000 residual value
purchased office equipment $113,000 paid $80,000 cash and finance remainder with a note payable
acquired land and communication equipment in a lump sum purchase total cost was $310,000 paid in cash and independent appraisal value the land at $244,125 and the communication equipment at $81,375
Record depreciation on the office equipment office equipment is depreciate it using the double declining balance method over five years with $1000 residual value
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.