4 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 Assume no other adjusting entries are made during the year. 10 pois Book The Krug Company's Accumulated Depreciation account has a $22,000 balance to start the year. A review of depreciation schedules reveals that 524.800 of depreciation expense must be recorded for the year. Accumulated depreciation Step 1: Determine what the current account balance equals Hint Step 2 Determine what the current account balance should equal Print Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 b. The company has only one fixed asset (truck that it purchased at the start of this year. That asset had cost $61,000, had an estimated life of 5 years, and is expected to have zero value at the end of the years Accumulated depreciation -Truck Step 1: Determine what the current account balance equals Step 2: Determine what the current account balance should Step 3: Record the December 31 adjusting entry to get from step to step 2 Che 4 b. The company has only one fixed asset truck) that it purchased at the start of this year. That asset had cost $61,000, had an estimated life of 5 years, and is expected to have zero value at the end of the 5 years. 10 points Accumulated depreciation -Truck 0 Step 1: Determine what the current account balance equals. ebook 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 c. The company has only one fixed asset (equipment that it purchased at the start of this year. That asset had cost $66,000, had an estimated life of 7 years, and is expected to be valued at $14,200 at the end of the 7 years, References Accumulated depreciation -Equipment Step 1: Determine what the current account balance equals. Sep 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