M Inbax - jamalzai20166gmail.ccx iCampus xWileyPLUS Algebra Calculator-MathPapa

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M Inbax - jamalzai20166gmail.ccx iCampus xWileyPLUS Algebra Calculator-MathPapa × CSecure https://edugen.wileyplus.com/edugen/lti/main.uni Return to Blackboard WileyPLUSing CALCULATOR PRINTER VERSION ·BACK . TIMER Question 1 ugiey Co bought a machine on January 1 2013 for $1,402,200 t ad a 120,000 estimated esidual value and a 11-year life. An expense account was debited on the purchase date uigley uses straight line deprecation. This as discovered in 2015. Prepare the entries related to the machine for 2015. (Ifno entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account tities are automatically indented when amount is entered. Do not ndent manually. Round answers to O decimai places, e.g. 5,275.) Account Tides Equiament Retained Earnings Accumulated Depreciation To correct the error) Depreciation Expense 1,402,200 Raviww Results by 116564 116564 To record depreciation expense) Question Attempts: 0 of 1 used SAVE FOR LATER ANSWER

Explanation / Answer

Account titles and explanation Debit Credit Equipment $1,402,200 Retained Earnings $1,169,072 Accumulated Depreciation-Equipment(2 × $116,564) $233,128 Depreciation Expense $116,564 Accumulated Depreciation-Equipment $116,564

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