Pass the correspondence Book entry

Company purchase one car on 01/01/2008, one new accounting package, and paid audit service charges. The cost of car is 20,000.00, accounting software is 6000.00 and audit fee is 3000.00 estimated depreciation is for tangible assets is 10 years and for intangible is 3 years. Pass the correspondence Book entry

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vishu.143

  • Oct 20th, 2008
 

Car:Tangible20,000
Accounting Software:Intangible6,000
To account payable26,000
Audit Fees3,000
To account payable3,000
Dereciation
Dereciation:Car1,000
Amortization:Software1,000
To Accumulated Depreciation2,000

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