Compute the Following: A

Essay

Compute the following:
a.
Carder & Company purchased equipment for $24,000 with a useful life of eight years and no expected salvage value.Prepare the adjusting entry for the first year using the straight-line depreciation method and compute the book value at the end of the second year of the equipment's life.
b.
DAC Company pays its employees every Friday.On January 2,20--,the Company paid $6,000 for the 5 days beginning the previous December 29.Prepare the adjusting entry on December 31.