Depreciation for the year is estimated to be 6000. prepare, Ask an Expert

Accounting

At the end of its first year, the trial balance of Wooster Company shows Equipment $32,000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $6,000. Prepare the 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.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M948785

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