ACCOUNTING 201 EXTRA CREDIT PRACTICE SET TO BE COMPLETED ON PAPER IN YOUR OWN HANDWRITING How...

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ACCOUNTING 201 EXTRA CREDIT PRACTICE SET TO BE COMPLETED ON PAPER IN YOUR OWN HANDWRITING How does $500 of annual depreciation expense affect these accounts? Indicate the direction (# $ or NA) and amount. Cash Assets Book + Value - Liab. Equity Income Stmt. Gain Cash A/P + RE Rev. Exp. +/- /Loss = NI Flows Put the following items into an equation that helps solve for the ending balance of the machines account (this account is used to track all assets classified as machines): Ending Cost of Machines Beginning Cost of Machines Cost of Machines Purchased During the Year Cost of Machines Disposed of During the Year Beginning Cost of Machines Put the following items into an equation that helps solve for the ending balance of Accumulated Depreciation related to a company's machines: Ending Accumulated Beginning Accumulated Depreciation Accumulated Depreciation on Machines Expense Depreciation Depreciation Disposed of During the Year Beginning Accumulated Depreciation + Depreciation Expense Accumulated Depreciation on Machines Disposed of During the year Emding accumulated Depreciation Eiler-Accounting 201-Extra Credit Practice ACCOUNTING 201 EXTRA CREDIT PRACTICE SET TO BE COMPLETED ON PAPER IN YOUR OWN HANDWRITING How does $500 of annual depreciation expense affect these accounts? Indicate the direction (# $ or NA) and amount. Cash Assets Book + Value - Liab. Equity Income Stmt. Gain Cash A/P + RE Rev. Exp. +/- /Loss = NI Flows Put the following items into an equation that helps solve for the ending balance of the machines account (this account is used to track all assets classified as machines): Ending Cost of Machines Beginning Cost of Machines Cost of Machines Purchased During the Year Cost of Machines Disposed of During the Year Beginning Cost of Machines Put the following items into an equation that helps solve for the ending balance of Accumulated Depreciation related to a company's machines: Ending Accumulated Beginning Accumulated Depreciation Accumulated Depreciation on Machines Expense Depreciation Depreciation Disposed of During the Year Beginning Accumulated Depreciation + Depreciation Expense Accumulated Depreciation on Machines Disposed of During the year Emding accumulated Depreciation Eiler-Accounting 201-Extra Credit Practice