Breif Exercise 3-4
At the end of its first year, the trial balance of Denton
Company shows Equipment $30,000 and zero balances in Accumulated
Depreciation—Equipment and Depreciation Expense. Depreciation for the year is
estimated to be $5,000. 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.
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