Question
A manufacturing company purchased equipment on January 1, 2010 for $450,000. As of January 1, 2019, depreciation of $202,500 had been recorded on this asset.
A manufacturing company purchased equipment on January 1, 2010 for $450,000. As of January 1, 2019, depreciation of $202,500 had been recorded on this asset. Depreciation expense for 2019 is $22,500. After the adjustments are recorded and posted at December 31, 2019, what are the balances for the Equipment and Accumulated Depreciation?
Equipment Accumulated Depreciation
| a. | $450,000 $225,000 | |
| b. | $450,000 $0 | |
| c. | $225,000 $22,500 | |
| d. | $225,000 $225,000 |
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Effective Internal Auditing
Authors: Manuel E. Peña-Rodríguez
1st Edition
1736742922, 978-1736742921
