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i want to journal entries and accumulated depreciation and book value of this question Mean Beans, a local coffee shop, has the following assets on

i want to journal entries and accumulated depreciation and book value of this question
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Mean Beans, a local coffee shop, has the following assets on January 1, 2023. Mean Beans prepares annual financial statements and has a December 31, 2023 yeat-end. The company's depreciation policy is to use the straight-line method to depreciate its assets. a. On January 1, 2023, purchase equipment costing $17,100 with an estimated Ilfe of five years. Mean Beans will scrap the equipment after five years for $0. b. On July 1, 2023, purchase furniture (tables and chairs) costing $10,000 with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $2,200 after ten years. c. On January 1, 2021, Mean Beans had purchased a car costing $26.750 with an estimated life of eight years. Mean Beans estimates that it can sell the car for $5,350 after eight years. Required: 1-a. For each transaction, calculate the current year's annual depreciation expense. 1-b. For each transaction, record the adjusting entry on December 31, 2023, Journal entry worksheet Record annual depreciation on equipment. Note: Enter debits before credits. 2. For the car, determine the accumulated depreciation as of December 31,2023. 3. For the car, determine the book value as of December 31,2023

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