Depreciation

Discussion: the nature of depreciation and why it must be done
Depreciation is an estimate – it is not market value
Demonstration: calculating depreciation expense using the Straight Line method
Demonstration: the journal entries and the accumulated depreciation account
How is this displayed on the balance sheet?
Additional Practice and Review: Read 301-306 Questions 1-9 (Page 311)

Project Submission

Last day for the assignment. It must be printed and ready to submit at the end of class on Monday

Assemble the assignment in the following order:

  1. Cover Page – with all group members names
  2. Trial Balance
  3. Income Statement
  4. Balance Sheet
  5. Journal Ledger

You should also be registered for:

Quickbooks Online