Adjustment for Depreciation The estimated amount of depreciation on equipment for the current year is $1,640. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank. Determining fixed asset's book value The balance in the equinment account is $3,000,000, and the talance in the accumulated depreciation-equlpment account is $1,620,000, This information has been collected in the Micostt Excel online file. Open the speadsheet, perferm the required analysis, and ingut your answers in the questions below. Open sireatshet 2. What is the book value of the equigment? Round your answer to the nearest dollar. 5 b. Ooen the balance in the accumbated depreciation acceunt mean that the equbenent's loss of value is 51,620,0007 , Becaun depreciation is an allocation of the of the equipment to the perlods benafting from its use. Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $2,039. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $958. Adlusting Entries for Uniearned Fees The balance in the unearned fees account, before adjustment at the end of the year, is 528,990 . Joumalize the adjusting entry required if the amount of unearned fees at the end of the year is $13,045. If an amount box does not require an entry, leave it blanic: Adjusting Entries for Accrued Salaries Paradise Realty Co. pays weekly salaries of $29,500 on Friday for a five-day workweek ending on that day. a. Journalize the necessary adjusting entry at the end of the accounting period assuming that the period ends on Tu Adjustment for Depreciation The estimated amount of depreciation on equipment for the current year is $1,640. Journalize the adjusting entry to record the depreciation. If an amount box does not require an entry, leave it blank. Determining fixed asset's book value The balance in the equinment account is $3,000,000, and the talance in the accumulated depreciation-equlpment account is $1,620,000, This information has been collected in the Micostt Excel online file. Open the speadsheet, perferm the required analysis, and ingut your answers in the questions below. Open sireatshet 2. What is the book value of the equigment? Round your answer to the nearest dollar. 5 b. Ooen the balance in the accumbated depreciation acceunt mean that the equbenent's loss of value is 51,620,0007 , Becaun depreciation is an allocation of the of the equipment to the perlods benafting from its use. Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $2,039. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $958. Adlusting Entries for Uniearned Fees The balance in the unearned fees account, before adjustment at the end of the year, is 528,990 . Joumalize the adjusting entry required if the amount of unearned fees at the end of the year is $13,045. If an amount box does not require an entry, leave it blanic: Adjusting Entries for Accrued Salaries Paradise Realty Co. pays weekly salaries of $29,500 on Friday for a five-day workweek ending on that day. a. Journalize the necessary adjusting entry at the end of the accounting period assuming that the period ends on Tu
