Prepare journal entries

Gandiaga owns a truck that it purchased two years ago at a total cost of $29,250. At that time it was estimated that the company would use the truck for six years and then sell it for $1,850. Recently, Gandiaga modified the truck at a cost of $4,500. This modification did not extend the life of the truck, nor did it change the estimated salvage value.

Prepare journal entries to record the cost of the upgrade and the depreciation expense for the third year assuming that Gandiaga uses straight-line depreciation.

Don't use plagiarized sources. Get Your Custom Essay on
Prepare journal entries
Just from $13/Page
Order Essay

Bundy Company purchased several computerized cash registers on April 2, 2010, at a total cost of $36,600. Estimated useful life of the registers is four years, and their total expected salvage value is $1,600. Bundy uses the straight-line method of depreciation and has a December 31 year-end.

Determine the amount of depreciation expense in 2008 assuming, alternatively, that (a) depreciation is calculated to the nearest month and (b) Bundy uses the midyear convention.

Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.