Morrow Manufacturing has equipment that is comprised of five components (amounts in thousands). Instructions a. Prepare the

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Morrow Manufacturing has equipment that is comprised of five components (amounts in thousands).

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Instructions
a. Prepare the adjusting entry necessary at the end of the year to record depreciation for the year. Assume that Morrow uses straight-line depreciation.
b. Prepare the entry to record the replacement of component B for cash of ¥40,000. It was used for 6 years.
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Intermediate Accounting IFRS

ISBN: 978-1119372936

3rd edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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