Prepare the adjusting entry for depreciation

Assignment Help Accounting Basics

Reference no: EM13117605

At the end of its first year, the trial balance of Wooster Company shows Equipment $32,000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $6,000. Prepare the adjusting entry for depreciation at December 31, post the adjustments to T accounts, and indicate the balance sheet presentation of the equipment at December 31.

Reference no: EM13117605

Questions Cloud

Use the information to identify accounts : Use the three divisional income statements in the Pinnacle_Financials Excel file on the Web site to prepare a common-size income statement for each of the three divisions for all three years.

How conjugation of multiple bonds brings light absorption : Alkenes and non conjugated dienes usually have absorption maxima below 200nm. Compounds that have conjugated multiple bonds have maxima at wavelengths longer than 200nm.

Probability that lot is accepted-still reduced inspection : Assume that a lot from product 5% non-conforming is submitted. Using Poisson Distribution compute the approximate probabilities that: the lot will be accepted and still in a reduced inspection.

Choose three integers : Choose three integers a, b, and c feel free to choose negative numbers. Use a, b, and c to create a trinomial ax2 + bx + c.

Prepare the adjusting entry for depreciation : At the end of its first year, the trial balance of Wooster Company shows Equipment $32,000 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense.

Estimating quadratic equation : How many possible solutions are there to any quadratic equation? How can you tell the number of solutions there will be to any polynomial? Provide an example to support your answer.

How many grams of the nonvolatile solute glycerol must added : The vapor pressure of pure methanol, CH3OH, at 30 C is 160. torr. How many grams of the nonvolatile solute glycerol, C3H5(OH)3, must be added to 131. g of methanol to obtain a solution with a vapor pressure of 133. torr.

Verbal breakdown of step : What are the similarities and differences between the procedures needed to solve each of the following problems? Show your work and include a verbal breakdown of each step.

Illustrate what is the magnitude of the footballs resultant : At the point he throws a 50.0 yards forward pass straight down the field. Illustrate what is the magnitude of the football's resultant displacement?

User Account

All Pages