On January 1, 2016, Al's Sporting Goods purchased store fixtures at a cost of $180,000. The anticipated service life was ten years with no residual value. Al's has been using the double-declining balance method, but in 2018 adopted the straight-line method because the company believes it provides a better measure of income. Al's has a December 31 year-end. The journal entry to record depreciation for 2018 is ______.
On January 1, 2016, Al's Sporting Goods purchased store fixtures at a cost of $180,000. The anticipated service life was ten years with no residual value. Al's has been using the double-declining balance method, but in 2018 adopted the straight-line method because the company believes it provides a better measure of income. Al's has a December 31 year-end. The journal entry to record depreciation for 2018 is ______.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 3RE: Albany Corporation purchased equipment at the beginning of Year 1 for 75,000. The asset does not...
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On January 1, 2016, Al's Sporting Goods purchased store fixtures at a cost of $180,000. The anticipated service life was ten years with no residual value. Al's has been using the double-declining balance method, but in 2018 adopted the straight-line method because the company believes it provides a better measure of income. Al's has a December 31 year-end. The
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