Answers
[a] | Accumulated Deprecication | |||
Step 1 | $19,500 | Credit | $19,500 | |
Step 2 | $41,300 | Credit (19500 + 21800) | $21,800 | |
$41,300 | ||||
Step 3 | Accounts title | Debit | Credit | |
Depreciation expense | $21,800 | |||
Accumulated Depreciation | $21,800 | |||
[b] | Accumulated Deprecication - Truck | |||
Step 1 | $0 | $0 | ||
Step 2 | $11,200 | Credit [($56000 - 0) / 5 years] | $11,200 | |
$11,200 | ||||
Step 3 | Accounts title | Debit | Credit | |
Depreciation expense - Truck | $11,200 | |||
Accumulated Depreciation - Truck | $11,200 | |||
[c] | Accumulated Deprecication-Equipment | |||
Step 1 | $0 | $0 | ||
Step 2 | $6,400 | Credit [($56000 - 11200) / 7 years] | $6,400 | |
$6,400 | ||||
Step 3 | Accounts title | Debit | Credit | |
Depreciation expense | $6,400 | |||
Accumulated Depreciation - Equipment | $6,400 |
For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at...
For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. a. The Krug Company's Accumulated Depreciation account has a $19,500 balance to start the year. A review...
For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. I just wrote numbers not correct by the way just to show the formating. a. The Krug...
For each separate case below, tollow the three-step process for adjusting the Accumulated Depreciation account at December 31 Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 Assume no other adjusting entries are made during the year. a. The Krug Company's Accumulated Depreciation account has a $17,000 balance to start the year. A review...
For each separate case below, follow the 3-step process for adjusting the accumulated depreciation account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. Chrome File Edit View History Bookmarks People Window Help M Chapter 3 New Tab C ezto.mheducation.co m/hm.tpx...
QS 3-8 Accumulated depreciation adjustments LO P1 For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31 Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year a. The Krug Company's Accumulated Depreciation account has a $18,500...
QS 3-8 Accumulated depreciation adjustments LO P1 For each separate case below, follow the three-step process for adjusting the accumulated depreciation account at December 31. oints Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 eBook Assume no other adjusting entries are made during the year a. The Krug Company's Accumulated Depreciation account has...
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For each separate case below, follow the three-step process for adjusting the prepaid asset account at December 31 Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 Assume no other adjusting entries are made during the year Prepaid Insurance. The Prepaid Insurance account has a $5,100 debit balance to start the year. A review...
For each separate case below, follow the three-step process for adjusting the prepaid asset account at Decemb Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. a. Prepaid Insurance. The Prepaid Insurance account has a $5,100 debit balance to start the year. A review...
For each separate case below, follow the three-step process for adjusting the prepaid asset account at December 31 Step 1: Determine what the current account balance equals. Step 2 Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. a. Prepaid Insurance. The Prepaid Insurance account has a $4,800 debit balance to start the year. A...