ACC 363 Week 2 Learning Team Assignments From the Readings 021263

# ACC 363 Week 2 Learning Team Assignments From the Readings 021263

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Problem 10-3A ACC 363

Problem P10-3A Part A: a. The journal entry to record the purchase on Jan. 1, 06

Machinery

1-Jan-06 Machinery

41,

Cash

41,

a. The journal entry to record yearly depreciation on , 2006,

       assuming the straight-line method of depreciation is used. (a)(2) 9,000


Straight -Line Method

31-Dec-06 Depreciation Expense 9,

  Accumulated Depreciation

9,


Part B: Straight line method:
100,000 Initial cost 8,000 Salvage value 92,000/4 Years useful life. 23,000 ...

ACC 363
wisdomrays

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#### Oh Snap! This Answer is Locked

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Excerpt from file: Problem103A ACC363 ProblemP103A Part A: a.ThejournalentrytorecordthepurchaseonJan.1,06 Machinery 1Jan06 Machinery Cash 41, 41, Machine Machine Cost 38, Sales Tax 2, Delivery Costs Shipping Insurance Installation and testing Cost of factory machinery 41, a.

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