Craving for Crepes, a popular Crepe and Waffle restaurant, has a thriving delivery business. The business has a fleet of three delivery vans. Before the adjusting entry for this year's depreciation expense, the details of each van are as follows: Instructions
a. Calculate the depreciation rates per kilometre for each van.
b. Calculate the depreciation expense for each van for the current year.
c. Prepare one compound journal entry to record the annual depreciation expense for the fleet.

Question

Craving for Crepes, a popular Crepe and Waffle restaurant, has a thriving delivery business. The business has a fleet of three delivery vans. Before the adjusting entry for this year's depreciation expense, the details of each van are as follows:  Instructions 
a. Calculate the depreciation rates per kilometre for each van.
b. Calculate the depreciation expense for each van for the current year.
c. Prepare one compound journal entry to record the annual depreciation expense for the fleet.

Quizplus · Accepted Answer

The Answer of Craving for Crepes, a popular Crepe and Waffle restaurant, has a thriving delivery business. The business has a fleet of three delivery vans. Before the adjusting entry for this year's depreciation expense, the details of each van are as follows:  Instructions 
a. Calculate the depreciation rates per kilometre for each van.
b. Calculate the depreciation expense for each van for the current year.
c. Prepare one compound journal entry to record the annual depreciation expense for the fleet.

Craving for Crepes, a Popular Crepe and Waffle Restaurant, Has