Question

Straight-line depreciation is used for the 10 boats purchased on April 2 for $60,000. The useful life for these assets is five years and there is no salvage value. A full month’s depreciation was taken in April on these boats. Straight-line depreciation is also used for the two boats purchased in May. Make one adjusting entry for all depreciation on the boats.

Answer 1

Explanation:

taken in April on these boats. Straight-line depreciation is also used for the two boats purchased in May. Make one