1) At the end of its first year, the trial balance of Nygaard Company shows Equipment $30,200 and zero balances in Accumulated DepreciationEquipment and Depreciation Expense. Depreciation for the year is estimated to be $4,700. Prepare the adjusting entry for depreciation at December 31.

**THE RED AREA IS WHERE I NEED HELP**

2) Ritter Advertising Companys trial balance at December 31 shows Supplies $7,500 and Supplies Expense $0. On December 31, there are $2,900 of supplies on hand. 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.

Debit Date Account Titles and Explanation Credit Dec. 31 [Depreciation Expense 4,700 Accumulated Depreciati 4,700 Post the adjustments to T-accounts. Depreciation Expense 12/31 12/31 Accumulated Depreciation- Equipment 12/31 12/31 Account Titles Debit Credit Date Dec. 31 Supplies Expense 4,600 Supplies 4,600 Supplies 12/31 Supplies Expense 12/31 Bal