Action Quest Games Inc. owns the following long-lived assets:

Instructions
(a) Prepare depreciation adjusting entries for Action Quest Games for the year ended December 31, 2012, assuming the company adjusts its accounts annually.
(b) For each asset, calculate its accumulated depreciation and carrying amount at December 31, 2012.

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Date Purchased July 1, 2010 Jan. 1, 2009 Jan. 1, 2012 Cost $12,000 28,000 10,000 Estimated Useful Life 3 years 7 years 5 years Asset Equipment Vehicles Furniture