Prepare the adjusting entry for depreciation at december 31, Ask an Expert

Accounting

At the end of its first year, the trial balance of Easton Company shows Equipment $30,000 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.:- M9396177

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