Exercise 3-5 Preparing adjusting entries (annual)depreciation LO4 Mean Beans, a local coffee shop,...
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Exercise Preparing adjusting entries annualdepreciation LO Mean Beans, a local coffee shop, has the following assets on January Mean Beans prepares annual financial statements and has a December yearend. The companys depreciation policy is to use the straightline method to depreciate its assets. On January purchase equipment costing $ with an estimated life of five years. Mean Beans will scrap the equipment after five years for $ On July purchase furniture tables and chairs costing $ with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $ after ten years. On January Mean Beans had purchased a car costing $ with an estimated life of eight years. Mean Beans estimates that it can sell the car for $ after eight years.
Exercise Preparing adjusting entries annualdepreciation LO
Mean Beans, a local coffee shop, has the following assets on January Mean Beans prepares annual financial statements and has a December yearend. The companys depreciation policy is to use the straightline method to depreciate its assets.
On January purchase equipment costing $ with an estimated life of five years. Mean Beans will scrap the equipment after five years for $
On July purchase furniture tables and chairs costing $ with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $ after ten years.
On January Mean Beans had purchased a car costing $ with an estimated life of eight years. Mean Beans estimates that it can sell the car for $ after eight years.
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You can see the logs in the Dashboard.