Current Attempt in Progress
Sunland 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 Sunland uses the doublediminishingbalance method at two times the straightline depreciation rate, has a March year end, and makes adjusting entries annually.
a 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
They were sold for $
They were sold for $
They were retired for no proceeds.
No Date Account Titles and Explanation
July
Depreciation Expertos
Accumulated Depreciation Buildings
To record depreciation on buildings disposed
July
Debit
Credit
Credit
Acournulated DepreciationBuildires
Buildines:
