+1(805) 568 7317

question please help me finish this correctly saskatchewan forestry company purchase 4277579


Please help me finish this correctly

Saskatchewan Forestry Company purchased a timber tract for $150,000 and estimates that it will be depleted evenly over its 10-year useful life with no residual value. Prepare the journal entry that would be recorded if 10 percent of the total timber is cut and placed into inventory during the current year. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first account field.) Answer is complete but not entirely correct Debit Transaction General Journal Credit 15,000 Inventory x 15,000 Timber Tract

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon

Order Now