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Current Attempt in Progress Wildhorse uses the diminishing-balance method at one times the straight-line depreciation rate. Wildhorse Limited purchased delivery equipment on March 1, 2019,
Current Attempt in Progress Wildhorse uses the diminishing-balance method at one times the straight-line depreciation rate. Wildhorse Limited purchased delivery equipment on March 1, 2019, for $138,750 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $10,470. The equipment was disposed of on November 30, 2021. Wildhorse uses the diminishing-balance method at one times the straight-line depreciation rate, has an August 31 year end, and makes adjusting entries annually. (b) Your answer is partially correct. Record depreciation at August 31, 2019, 2020, and 2021. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit g. 31, 2019 Accumulated Depreciation - Equipment 25656 Equipment 25656 g. 31, 2020 Accumulated Depreciation - Equipment 25656 Equipment 25656 g. 31, 2021 Accumulated Depreciation - Equipment 25656 Equipment 25656 e Textbook and Media
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