Do It! Review 9-2a On January 1, 2017, Salt Creek Country Club purchased a new r

Question

Do It! Review 9-2a On January 1, 2017, Salt Creek Country Club purchased a new riding mower for $16,900. The mower is expected to have a 10-year life with a $1,200 salvage value. What journal entry would Salt Creek make on December 31, 2017, if it uses straight-line depreciation? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit

Explanation / Answer

Journal Entry Date Particulars Dr. Amt. Cr. Amt. 31-Dec-17 Depreciation Expenses                                     Dr.    1,570.00 ($16,900 - $1,200) / 10 Years    To Accumulated Dep. - Mower    1,570.00 (Record the Depreciation Expense)

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.