I attached a picture of the question as well but put the text from the question as well incase it is too small to read. I don't know how to do this journal entry. Thanks! Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35,136. The carpet is estimated to have a 16-year useful life and no residual value.A.Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of account titles.B.Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek Company uses the straight-line method. Refer to the Chart of Accounts for exact wording of account titles. Ch 10-3 Exercises & ProblemseBookPrint ItemCapital expenditure and depreciationInstructionsChart of AccountsJournalInstructionsWillow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35,136. The carpet is estimated to have a 16-year useful life and no residual valueA. Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of accounttitlesB. Record the December 31 acjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek Company usesthe straight-line method. Refer to the Chart of Accounts for exact wording of account titles.Check My Work2 more Check My Work uses remainingPreviousNextAssignment Score: 50%All work savedEmail InstructorSave and Exit Submit Assignment for Grading

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Description: I attached a picture of the question as well but put the text from the question as well incase it is too small to read. I don't know how to do this journal entry. Thanks! Willow Creek Company purchased and installed carpet in its new general offices

A.Prepare journal entry to record purchase of carpet:

Answered: Ch 10-3 Exercises & Problems eBook…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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I attached a picture of the question as well but put the text from the question as well incase it is too small to read. I don't know how to do this journal entry. Thanks!

Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35,136. The carpet is estimated to have a 16-year useful life and no residual value.

A.	Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of account titles.
B.	Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek Company uses the straight-line method. Refer to the Chart of Accounts for exact wording of account titles.

Ch 10-3 Exercises & Problems
eBook
Print Item
Capital expenditure and depreciation
Instructions
Chart of Accounts
Journal
Instructions
Willow Creek Company purchased and installed carpet in its new general offices on April 30 for a total cost of $35,136. The carpet is estimated to have a 16-year useful life and no residual value
A. Prepare the journal entry necessary for recording the purchase of the new carpet. Refer to the Chart of Accounts for exact wording of account
titles
B. Record the December 31 acjusting entry for the partial-year depreciation expense for the carpet, assuming that Willow Creek Company uses
the straight-line method. Refer to the Chart of Accounts for exact wording of account titles.
Check My Work
2 more Check My Work uses remaining
Previous
Next
Assignment Score: 50%
All work saved
Email InstructorSave and Exit Submit Assignment for Grading

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