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Record the December adjusting entry for the partial-year

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Reference no: EM132752997

Problem - Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $18,000. The carpet is estimated to have a 15-year useful life and no residual value.

Required -

a. Prepare the journal entry 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 Willow Creek uses the straight-line method.

Reference no: EM132752997

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