wedianadel4 wedianadel4

11-04-2022
Business

contestada

), AP At the end of its first year, the trial balance of Wolowitz Company shows Equipment $30,000 and zero balances in Accumulated Depreciation—Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,750. Prepare the annual adjusting entry for depreciation at December 31, post the adjustments to T-accounts, and indicate the balance sheet presentation of the equipment at December 31.

Respuesta :

Parrain Parrain

12-04-2022

Based on the depreciation balances and the equipment, the adjustments to the T-accounts and the Balance sheet will be:

Date Account title Debit Credit

December 31 Depreciation expense $3,750

Accumulated depreciation on $3,750

equipment

T account

Depreciation expense Equipment

December 31 $3,750

T account

Accumulated Depreciation on Equipment

December 31 $3,750

Balance sheet presentation

Assets

Property, Plant, and Equipment:

Equipment $30,000

Less: Accumulated depreciation ($3,750)

Equipment (Net book value) $26,250

What are the entries?

Depreciation of $3,750 will be debited to the depreciation expense account. The accumulated depreciation account will be credited by the same amount.

In the balance sheet, the equipment value will be reduced by the depreciation amount to $26,250.

Find out more on depreciation at https://brainly.com/question/1287985.

Answer Link

Otras preguntas

I need the answer ASAP thank you very much!!!!! A. ) Is 2. 89 a perfect square ? Why yes ? Why no ? B. ) Is 0. 004 a prefect square ? Why yes ? Why no ?

In the accompanying diagram of circle O, mAB = 64 and m AEB = 52 What is the measure of CD?

which equation is represented by the graph drawn in the accompanying diagram (x+3)^2+(y+2)^2=4 (x+3)^2+(y+2)^2=2 (x-3)^2+(y-2)^2=4 (x-3)^2+(y-2)^2=2

Determine whether the quadratic function shown below has a minimum or maximum, then determine the minimum or maximum value of the function. f(x)=-3(x-5)(x-3)

Which describes the transformation from the original to the image, and tells whether the two figures are similar or congruent?

suppose you have a golden rectangle cut out of a piece of paper. now suppose you fold it in half along its base and then in half along its width. you have just

A rectangle has a length 2m less than twice its width. When 2m are added to the width, the resulting figure is a square with an area of 36m^2. Find the dimensi

A high school is having a can food drive. ▪️ The freshman class collected 54 more cans than the sophomore class. ▪️ The junior class collected three times the

In the table, the ratio of y to x is constant. What is the value of the missing number? 15 20 25 30

Determine whether the quadratic function shown below has a minimum or maximum, then determine the minimum or maximum value of the function. f(x)=-3(x-5)(x-3)