Accounting; The Adjusting Process

Description

Chapter 3: The Adjusting Process

Assume that you are the accountant for Computer Consultants. Prior to this year, Computer Consultants operated out of a leased office. However, the company purchased its own office building this year. The building is in an area where real estate values have been increasing an average of 6 percent per year.

The owner of Computer Consultants has asked why you recorded depreciation on the building if real estate values are appreciating. Write a response to the owner explaining why depreciation must be recorded on the company’s accounting records.

Responses to Classmates:

Please let your classmates know which of the adjusting entries you find challenging. Also, let them know which ones you feel are easy.

Response to Instructor:

Please check your thread for questions and comments from me and be sure to provide a comprehensive response, as required.

Writing:

Please make sure that your initial post contains a properly cited reference. Please use APA style. You should cite your text as a minimum. Additionally, check your spelling and proofread your post before you hit the submit button.

Sample Solution

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