a. Accumulated Depreciation: The Krug Company's Accumulated Depreciation account has a 322,000 balance to start the year. A review of depreciation schedules reveals that $24.800 of depreciation expense must be recorded for the year Accumulated depreciation Step 1: Determine what the current account balance equals. Step 2. Determine what the current account balance should equal Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 b. Accumulated Depreciation: The company has only one plant asset (track) that it purchased at the start of this year. That asset had cost $61,000, had an estimated life of five years, and is expected to have zero value at the end of the five years. The company uses straight line depreciation method to calculate its depreciation. Accumulated depreciation - Truck Step 1 Determine what the current account balance equals. Step 2. Determine what the current account balance should equal Step 3. Record the December 31 adjusting entry to get from step 1 to step 2 c. Accumulated Depreciation: The company has only one plant asset (equipment that it purchased at the start of this year. That asset had cost 566,000, had an estimated life of seven years, and is expected to be valued at $14.200 at the end of the seven years. The company uses straight line depreciation method to calculate its depreciation Accumulated depreciation -Equipment Step 1 Determine what the current account balance equals Step 2: Determine what the current account balance should equat Step 3. Record the December 37 adiustina entry to get from sten 1 tot 2 Accumulated Depreciation. The company has only one plant asset (truck) that it purchased at the start of this yean That sset had cost $61,000, had an estimated life of five years, and is expected to have zero value at the end of the five years. The company uses straight line depreciation method to calculate its depreciation Accumulated depreciation -Truck Step 1: Determine what the current account balance equals Step 2 Determine what the current account balance should equat. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. c. Accumulated Depreciation. The company has only one plant asset (equipment that it purchased at the start of this year. That asset had cost $66,000, had an estimated life of seven years, and is expected to be valued at $14,200 at the end of the seven years. The company uses straight line depreciation method to calculate its depreciation Accumulated depreciation Equipment Step 1. Determine what the current account balance equals Step 2. Determine what the current account balance should equal Step 3. Record the December 31 adjusting entry to get from stop 1to step 2
