Solution-Capital expenditure and depreciation

Capital expenditure and depreciation

Reference no: EM13533317

Capital expenditure and depreciation

Viking Company purchased and installed carpet in its new general offices on June 30 for a total cost of $15,000. The carpet is estimated to have a 12-year useful life and no residual value.

a. Prepare the journal entries necessary for recording the purchase of the new carpet.

b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Viking Company uses the straight-line method.

Reference no: EM13533317

Questions Cloud

Explain cao can be used as a drying agent : CaO can be used as a drying agent. One such application occurs when water is added to dry concrete or cement. The reaction that occurs is Substance CaO(s) + H2O(l) = Ca(OH)2(s)

Find the magnitude and direction of the net force on the car : A 1550 kg car drives around a flat 200 m diameter circular track at 30 m/s. What is the magnitude and direction of the net force on the car

What was the book value of the equipment at december : What was the book value of the equipment at December 31 and depreciation for the six months until the sale date, and (2) the sale of the equipment.

Determine the magnitude of the force that the shopper exerts : A person pushes a 12.3-kg shopping cart at a constant velocity for a distance of 16.5 m on a flat horizontal surface. What is the magnitude of the force that the shopper exerts

Capital expenditure and depreciation : Prepare the journal entries necessary for recording the purchase of the new carpet - Capital expenditure and depreciation

Explain what molar ratio of acetic acid to sodium acetate : What molar ratio of acetic acid to sodium acetate is required to create a buffer solution having a pH of 4.84 at 25°C? Ka for HC2H3O2 is 1.8 × 10-5.

Determine what is the speed of her hands : A skater holds her arms outstretched as she spins at 150 rpm. What is the speed of her hands if they are 145 cm apart

Define bromobenzene is used as one of the starting compounds : Suppose one wanted to make 4-methyl-2-phenyl-2-pentanol. If bromobenzene is used as one of the starting compounds, what other compound would be required in the preparation of this compound by a Grignard Synthesis

Current liabilities section of balance sheet for new wave : Determine the fixed asset turnover ratio for 2012 and 2011 and Does the change in the fixed asset turnover ratio from 2011 to 2012 indicate a favorable or an unfavorable trend?

User Account

All Pages

Capital expenditure and depreciation

Reference no: EM13533317

Reference no: EM13533317

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT