2 points For each separate case below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. eBook Assume no other adjusting entries are made during the year. Hint a. Accumulated Depreciation: The Krug Company's Accumulated Depreciation account has a $16,500 balance to start the year. A review of depreciation schedules reveals that $18,200 of depreciation expense must be recorded for the year. Print Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. References Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Accumulated depreciation b. Accumulated Depreciation: The company has only one plant asset (truck) that it purchased at the start of this year. That asset had cost $50,000, had an estimated life of five years, and is expected to have zero value at the end of the five years. The company uses straight line depreciation method to calculate its depreciation. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Accumulated depreciation -Truck 5 2 points b. Accumulated Depreciation: The company has only one plant asset (truck) that it purchased at the start of this year. That asset had cost $50,000, had an estimated life of five years, and is expected to have zero value at the end of the five years. The company uses straight line depreciation method to calculate its depreciation. Step 1: Determine what the current account balance equals. eBook Step 2: Determine what the current account balance should equal. Hint Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Print Accumulated depreciation -Truck References c. Accumulated Depreciation: The company has only one plant asset (equipment) that it purchased at the start of this year. That asset had cost $44,000, had an estimated life of seven years, and is expected to be valued at $7,600 at the end of the seven years. The company uses straight line depreciation method to calculate its depreciation. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Accumulated depreciation --Equipment