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Prepare the necessary december adjusting journal entry

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Reference no: EM132591200

Question - On July 1, 2014, Delta Company purchased and placed in service a machine that cost $360,000. Delta estimated the service life to be 5 years or 25,000 units of output, with an estimated residual value of $6,000. During 2014, 2,600 units were produced.

Required - Prepare the necessary December 31, 2014, adjusting journal entry to record depreciation assuming Delta uses:

(a) The straight-line method of depreciation.

(b) The units-of-production method of depreciation.

Reference no: EM132591200

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