Before adjustment:

Given
For the current year, depreciation on equipment is $2,000.

Required
a. Which of the three T accounts is not affected?
b. Which account is a contra-asset?
c. Draw a transaction analysis box for this adjustment.
d. What will be the balance of each of these three accounts on the adjusted trial balance?

Transcribed Image Text:

Equipment 9,000 Accumulated Depreciation, Equipment 2,000 Depreciation Expense, Equipment