Discussion board?
On July 1, 2007, Red Gate Farm buys a combine for $100,000 in lolly. Assume that the combine is expected to have a seven-year life span and an estimated salvage value of $16,000 at the finish off of that time.
1. Prepare the journal entry to story the purchase of the combine on July 1, 2007.
2. Compute the depreciable cost of the combine.
Answers: If this is homework, post it to the homework board. If it's not, go collaborate to an accountant.
I think this is the third time this ask has be posted in the insurance group, and it have NOTHING to do with insurance.