CHAPTER 3 Adjusting Accounts for Financial Statements e. Using the straight-line depreciation method, calculate the annual depreciation for 2017 Jan. I to Dee. 31 2017). d. In order to prepare the annual financial st depreciation on December 31, 2017 Qs 3-s Preparing adjusting entries (annual)-depreciation expense LO4 Gold Co purchased a vehicle on March 1, 2017, for cash of $32,000. It will be used by the presidernt business purposes for four years and then sold fe December 31 r an estimated amount of $8,000. Gold Co.s year-er a. Record the journal entry on March 1, 2017 b. Using the straight-line depreciation method, calculate the depreciation expense for March 2017 to December 31, 2017 e. To prepare the 2017 annual financial statements, record the adjusting entry December, 31, 2017. January 1, 2018 to December 31, 2018 December, 31, 2018 d. Using the straight-line depreciation method, calculate the depreciation expense e. To prepare the 2018 annual financial statements, record the adjusting entr 39 Preparing adjusting entries (annuall)-unearned revenue LO4