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Eli Johnson associates service American eating habits the companies accounts include land buildings office equipment...

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Accounting

Eli Johnson associates service American eating habits the companies accounts include land buildings office equipment and communication equipment with a separate accumulated depreciation account for each depreciable asset during 2024 Eli Johnson associates completed the following transactions
purchased office equipment $113,000 paid $80,000 cash and finance remainder with a note payable
acquired land and communication equipment in a lump sum purchase total cost was $310,000 paid in cash and independent appraisal value the land at $244,125 and the communication equipment at $81,375
Record depreciation on the office equipment office equipment is depreciate it using the double declining balance method over five years with $1000 residual value

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