Willow Creek Company purchased and installed carpet in its new general offices on September 30...
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Accounting
Willow Creek Company purchased and installed carpet in its new general offices on September 30 for a total cost of $9,936. The carpet is estimated to have a 12-year useful life and no residual value.
a. Prepare the journal entry necessary for recording the purchase of the new carpet.
| September 30 | |||
b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek uses the straight-line method. Do not round intermediate calculations.
| Dec. 31 | |||
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