Cowley Company just completed its first year of operations. The December 31 equipment account has a balance
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Question:
Cowley Company just completed its first year of operations. The December 31 equipment account has a balance of $45,000. There is no balance in the Accumulated Depreciation-Equipment account or in the Depreciation Expense account. The accountant estimates the yearly equipment depreciation to be $9,000. Prepare the required adjustment to record the yearly depreciation for equipment. Note: Use negative signs with answers, when appropriate.
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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