Chapter 3
Long-Term Assets
101
Date
Account Title and Explanation
Debit
Credit
b) Using the double-declining-balance depreciation method, redo the journal entries for
the depreciation of the Trailer for 2015 and 2016. Note: the exact journal entry dates can
be omitted for the purpose of this exercise. Simply indicate if each transaction belongs to
2015 or 2016. Show your calculations in the space provided on the following page.
Date
Account Title and Explanation
Debit
Credit
