DUWhIOadable eTextbook gnment CALCULATOR PRINTER VERSION ·BA Brief Exercise 4-5

Question

DUWhIOadable eTextbook gnment CALCULATOR PRINTER VERSION ·BA Brief Exercise 4-5 Expense. Depreciation for the year is estimated to be $3,400. Prepare the adjusting entry for depreciation at December 31. (If no entry is required, select "No Entry" for the account titles and enter o for the an At the end of its first year, the trial balance of Crane Company shows Equipment $22,400 and zero balances in Accumulated Depreciation- Equipment and De account titles are automatically indented when the amount is entered. Do not indent manually,) Date Account Titles and Explanation Debit Credit Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.) Depreciation Expense Accumulated Depreciation-Equipment edugen/shared assignmenttestaglist.uni?deasnmt2289640#N10037

Explanation / Answer

1 31-Dec Depreciation Expense 3400          Accumulated Depreciation—Equipment 3400 2 Depreciation Expense 31-Dec 3400 Accumulated Depreciation—Equipment 31-Dec 3400 3 Partial Balance Sheet Equipment 22400 Less: Accumulated depreciation—equipment 3400 19000

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