Customer Service Chat
Get quote & make Payment
Accumulated Depreciation, Financial Accounting
The office building was bought in January 1, 2011 and was originally planned to be used for 40 years and had no salvage value. It is depreciated on a straight line basis. Now in 2012, the estimated total life remains at 40 years, but the salvage will be $500,000.
The office building is listed at $3,100,000 on the unadjusted trial balance and has accumulated depreciation of $87,500.
I need to prepare the adjusting journal entry to account for accumulated depreciation in 2012. Also, I believe that accumulated depreciation was recorded incorrectly for 2011 so I think I need to adjust for this as well.
Posted Date: 11/18/2012 1:50:27 PM | Location : United States
Ask an Expert
Accumulated Depreciation, Assignment Help, Ask Question on Accumulated Depreciation, Get Answer, Expert's Help, Accumulated Depreciation Discussions
Write discussion on Accumulated Depreciation
Your posts are moderated
Write your message here..
Dividends-capital commitments-notes to the accounts, Dividends During th...
Dividends During the year, the company paid a dividend of Sh.2 per share on the ordinary share s outstanding and Sh.1 on the preference shares outstanding. The company is now pr
Legal aspects-autonomous branches, Legal Aspects There is no law relating...
Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans
Macrs depreciation system, Real estate depreciated under MACRS rules is sub...
Real estate depreciated under MACRS rules is subject to cost recovery using a mid-year convention. Mike converted his personal residence (acquired in 2001) to rental property th
Income statement, how should i treat items in the additional information
how should i treat items in the additional information
Prepare income statement and analysis of retained earnings, You are prepari...
You are preparing and income statement and analysis of retained earnings for Pacioli Wholesale Corporation for the years ended June 30, 2011 and 2012 based on the following informa
Financial statements, Describe the following questions:- Q.1 Explain how...
Describe the following questions:- Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement
Evlaute expected value of sales volume, Q. Evlaute Expected value of sales ...
Q. Evlaute Expected value of sales volume? (17500 × 0·3) + (20000 × 0·6) + (22500 × 0·1) = 19500 units Expected NPV = (((19500 × 1·35) - 10000) × 3·605) - 50000 = $8852 W
Rescission-statement of affairs-receiving order , Rescission of receiving o...
Rescission of receiving order The order may be rescinded by the court if: The court has sanctioned a composition or scheme of arrangement; The debts have been paid in
Interest revenue, Interest revenue: At the end of 2012, a manufacturer...
Interest revenue: At the end of 2012, a manufacturer sells machinery to a customer for $90,000. $30,000 is paid immediately, and the customer signs a promissory note for the r
Incomplete Records, Statement to ascertain profit in analysis method and co...
Statement to ascertain profit in analysis method and comparison method, and reconstructed using ledger
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.