Question 15 of 17 Current Attempt in Progress Blue Spruce Corp. uses the straight-line method of depreciation. The company's fiscal year end is December 31. The following transactions occurred during 2022. Purchased equipment from the Kingbird, Iinc. for $35,000 plus sales tax of $3,150 and shipping costs of $630. Jan. May 13 Incurred $392 routine maintenance on the equipment. Dec. 31 Recorded 2022 depreciation on the basis of a 3-year life and estimated salvage value of $13.580. Prepare the necessary entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
Question 15 of 17 Current Attempt in Progress Blue Spruce Corp. uses the straight-line method of depreciation. The company's fiscal year end is December 31. The following transactions occurred during 2022. Purchased equipment from the Kingbird, Iinc. for $35,000 plus sales tax of $3,150 and shipping costs of $630. Jan. May 13 Incurred $392 routine maintenance on the equipment. Dec. 31 Recorded 2022 depreciation on the basis of a 3-year life and estimated salvage value of $13.580. Prepare the necessary entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 5P: Group and Composite Depreciation Chcadle Company purchased a fleet of 20 delivery trucks for 8,000...
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