Jahde-Wk3-Assignment - a)Brief Exercise BE3-4 Name Jahde...

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Jahde Goncalves Instructor: Ufuoma Omosebi BE3-4 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 Ex Depreciation for the year is estimated to be $6,000. Prepare the adjusting entry for deprec at December 31, post the adjustments to T accounts, and indicate the balance sheet presentation of the equipment at December 31. Easton Company General Journal Pag Date Accounts / Text/Memorandum Ref Debit 20xx Adjusting Entries Dec 31 Depreciation Expense 711 6,000 Accumulated Depreciation - Equipment 158 (To record annual depreciation) Bank 101 Dec 31 30,000 Dec 31 Balance Depreciation Expense 711 Accumu Dec 31 6,000 Balance 6,000 Statement Presentation Non Current Assets Office Equipment $30,000 Less: Accumulated Depreciation - Equipment $6,000 $24,000 a) Brief Exercise BE3-4 (a) Prepare adjusting entry (b) Post the adjustment entries to T accounts. (c)
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This note was uploaded on 11/23/2009 for the course BSAH0KSW88 ACC/362 taught by Professor Ufuomaomosebi during the Spring '09 term at University of Phoenix.

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Jahde-Wk3-Assignment - a)Brief Exercise BE3-4 Name Jahde...

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