At the end of its first year, the trial balance of Carla Vista Co. shows Equipment $21,800 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4.000.

Current Attempt in Progress At the end of its first year, the trial balance of Carla Vista Co. shows Equipment $21,800 and zero balances in Accumulated Depreciation-Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,000. (a1) Your answer is correct. Prepare the annual adjusting entry for depreciation at December 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Indicate the balance sheet presentation of the equipment at December 31