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harra harra
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6 years ago
Refer to Table 10-9 and the following information:

Prepare the journal entry to record the amortization expense in 2014 with the following assumptions:
   1.   straight-line amortization
   2.   January 2, 2014 a new canopy was installed onto the truck at a cost of $2,500
   3.   the useful life was changed from four years to six years
   4.   the estimated residual value was changed to $4,000

Prepare the following journal entries:

   1.   Prepare the journal entry to record the expenditure on the canopy for cash
   2.   Prepare the journal entry to record the amortization expense for 2014.
   3.   Close the amortization expense account on December 31, 2014.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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raovatallpyraovatallpy
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6 years ago
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