Adjusting an Entry for Accumulated Depreciation

Related BrainMass Solutions

• Adjusting Entries: Accumulated Depreciation

  The equipment had an original cost of $40,000 and was 3/4 depreciated when sold. You are to prepare the missing adjusting entry. For each journal entry write the Dr for debit and the Cr for credit. The beginning balance is 230,000.

• Depreciation adjusting entry

  The solution explains how to determine the adjusting entry for depreciation

• Adjusting Entry

  Adjusting entries occur in accrual basis accounting. Accumulated depreciation, wages expense and unearned revenue are all accounts that can be found in an adjusting entry.

• Financial Analysis Examples

  Equipment Equipment Equipment (Balance) 30,000 (Balance) 6,000 (Balance) 6,000 Adjusting Entry: Depreciation Expense - Equipment 6,000 Accumulated Depreciation - Equipment 6,000

• This post addresses accounting practice questions.

  At the end of the current year, the accountant for Navistar Graphics forgot to make an adjusting entry to accrue Wages payable to the company's employees for the last week in December. The wages will be paid to the employees in January.

• Adjusting entry for depreciation

  89143 Adjusting entry for depreciation At the end of its first year, the trial balance of Easton Company shows Equipment $30,000 and zero balances in Accumulated Depreciation?Equipment and Depreciation Expense.

• Adjusting Entries Process

  Prepare the adjusting entry at December 31, and using T accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. a. Brief Exercise BE3-4 Prepare adjusting entry for depreciation.

• Recording Adjusting Journal Entries

  This solution illustrates the journal entries used to record adjusting entries for earned rent, accumulated depreciation, expired insurance, adjusting the count of supplies to actual, and accruing interest expense on a note payable.

• Examples of Transactions Recorded

  The adjusting entry would be to debit Depreciation Expense account, and to credit Accumulated Depreciation Expenses account. And its description can be "To record monthly depreciation". 3. Revenue Received in advance (e.g.