O (269) Subscriptions - You x Lab 11 Accounting Cycle C Chegg Study | Guided Sc

Question

O (269) Subscriptions - You x Lab 11 Accounting Cycle C Chegg Study | Guided Sc x C Tony And Suzie Are Read ezto.mheducation.com/hm.tpx Welcome, NicholaM McGraw-Hill ConncMy Library RedShelf O Kindle Cloud Reader 5 value: Required information 1.00 points Great Adventures Problem 7-1 Part 1 Required: 1. Determine the amount that should be recorded for the new vehicle t to be recorded References Worksheet Great Adventures Problem 7-1 Part 1 Difficulty: 3 Hard value 4.00 points Required information 3 02 PM 3/23/2018 2 Type here to search

Explanation / Answer

1) Cost of new vehicle = (12400+3100+2100) = 17600

2) Depreciation schedule :

Journal entry :

Depreciation expense Accumlated depreciation Book value Year 1 1300 1300 16300 Year 2 2600 3900 13700 Year 3 2600 6500 11100 Year 4 2600 9100 8500 Year 5 2600 11700 5900 Year 6 1300 13000 4600 Total 13000

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