Blossom Ice Fishing Limited purchased ice fishing huts on December for $ cash. At that time, the huts were estimated to have a useful life of years and a residual value of $ The huts were disposed of on July Blossom uses the doublediminishingbalance method at two times the straightline depreciation rate, has a March year end, and makes adjusting entries annually.
record depreciation at march
Record depreciation at March and List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. Round answers to decimal places, eg
tableDate Account Titles and Explanation,, Depreciation Expense,,Accumulated Depreciation Buildings,Depreciation Expense,Depreciation Expense,
