Award: 700 points + ch For each separate cose below, follow the three-step process for adjusting the Accumulated Depreciation account at December 31 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 Assume no other adjusting entries are made during the year Re Accumulated Depreciation: The Krug Company's Accumulated Depreciation account has a $23,000 balance to start the year. A review of depreciation schedules reveals that $26,000 of depreciation expense must be recorded for the year. Accumulated depreciation Step 1: Dermine 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 top 1 to step 2 b. Accumulated Depreciation: The company has only one plant asset truck that it purchased at the stand this set had cost $53000 hari Accumulated Depreciation: The company has only one plant asset (truck) that it purchased at the start of this year. That asset had cost $63,000, 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 Stop 3 Record the December 31 adjusting entry to get from step 1 to step 2 Accumulated Depreciation: The company has only one plant asset (equipment) that it purchased at the start of this year. That eset had cost $70,000, had an estimated life of seven years, and is expected to be valued at $15,400 at the end of the seven ars. The company uses straight line depreciation method to calculate its depreciation. 1: Determine what the current account balance equals Accumulated depreciation -Equipment c. Accumulated Depreciation: The company has only one plant asset (equipment that it purchased at the start of this year. That asset had cost $70,000, had an estimated life of seven years, and is expected to be valued at $15,400 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 equal Step 2 Determine what the current account balance should equat Step 3: Record the December 31 adjusting entry to get from step to step 2. Polo