Coronado Inc owns the following long$-$lived assets:

$\backslash$table$[[$Asset$,$Date Purchased,Cost,Estimated Useful Life$],[$Vehicles$,$Jan. $1,2023,$$$35,700,3$ years$],[$Equipment$,$July $1,2024,12,700,5$ years$]]$

$($a$)$

Your answer is correct.

Prepare depreciation adjusting entries for each asset for the year ended December $31,2024,$ assuming the company uses straight$-$line depreciation and adjusts its accounts annually. $($Credit account titles are outomatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select $"Na$ Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Dec. $31$

Depreclation Expense

Accumulated Depreclatlon $-$ Vehicles

$11,900$

$($To record Accumulated depreciation of vehicles$)$

Dec. $31$

Depredatlon Expense

Accumulated Depreclation $-$ Equlpment

$($To record Accumulated depreciation of equipment$)$

eTextbook and Media

List of Accounts

Attempts: $1$ of $3$ used

$($b$)$

For each asset, calculate its accumulated depreciation and carrying amount at December $31,2024.$

Vehicles

Equipment

Accumulated depreciation $

$

Carrying amount

s

$3$