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Decerber 31.2024 d. How many months of the insurance policy are keth in 2025 ? Q6 3-10 Preparing adjusting entries (annual)- depreciation expense 104 Isociared

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Decerber 31.2024 d. How many months of the insurance policy are keth in 2025 ? Q6 3-10 Preparing adjusting entries (annual)- depreciation expense 104 Isociared with a new vehicle to be used by the DCMI peesters. The velucle was purchased on March 1. 2023 for 540,000 exsh. It will be used by the president for businers purposes for four yedrs and then sold for an stimated anvount of $4.000, DGMis year end is December 31 2. Recond the foumal etiory on March 1, 2023 b. Using the straight-line depreciarion method, calculate the Seprectarion ocpense for March 1. 2023 to December 31.2023 c. To prepare the 2023 annual financial statements, Fecord the adiusuingentry for December 31,2023 . d. Using the straight line depreciation method calculate the deprecurcica expense for larsuary 12024 to December 31,2024. e. To prepare the 2024 annual financial statements, record the ad uating encry lor Decerober 31.2024. nc 311 Preparing adjusting entries (annuaD) depteciation Lo4 On fanuary 1, 2023. Taco Taqueria, a Mexican restaurans, purchased equipment fot $12,000 cash. Taco Taqueria estimates that the equipment will hat five yeats (asefal lise). The restaurant expects to sell the equipment for $2,000 at the end of five years. Taco Taqueria prepares financial statements on an annual basis and has December 31 year end a. Record the fournal entry on January 1, 2023. b. What is the formula to calculate straight-line deptectation? c. Using the straight-line depreciation method, calculate the annul depreciation for 2023 (jan. 1 to Dec. 31 . 2023) d. In order to prepare the annual financial statements, record the adjusting journal entry for depreciation on December 31,2023

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