Beaver Construction purchases new equipment for $36,000 cash on April 1, 2012. At the time of purchase,
Question:
(1) Record the purchase of equipment on April 1.
(2) Record the adjusting entry for depreciation on December 31, 2012.
(3) Calculate the year-end adjusted balances of Accumulated Depreciation and Depreciation Expense (assuming the balance of Accumulated Depreciation at the beginning of 2012 is $0).
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1 Apr 1 Debit Credit Equipment 36000 Cash 36000 Purchase equipment 2 Dec ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 9780078110825
2nd Edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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