Question

On January 1, 2015, the company purchased equipment that cost $10,000. The equipment is expected to be worth about (or has a salvage value of) $1,000 at the end of its useful life in five years. The company uses straight-line depreciation. It has not recorded any adjustments relating to this equipment during 2015. Complete the necessary adjusting entry by selecting the account names and dollar amounts from the drop-down menus

Answer 1

1

Dr Fixed asset equipment_________$10000

Cr Cash_______________________________$10000

purchased equipment

2

Dr Depreciation expense____________$1800

Cr Acummulate Depreciation_______________$1800

Anual depreciation

Step-by-step explanation:

1

Dr Fixed asset equipment_________$10000

Cr Cash_______________________________$10000

purchased equipment

2

Dr Depreciation expense____________$1800

Cr Acummulate Depreciation_______________$1800

Anual depreciation