Journal Entry Worksheet

• Beaver Construction purchases new equipment for $34,440 cash on April 1, 2015. Record the purchase of equipment.
• Beaver Construction purchases new equipment for $34,440 cash on April 1, 2015. At the time of purchase, the equipment is expected to be used in operations for seven years (84 months) and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the 84 months ($410/month). Record the adjusting entry.

DECE 31

Journal GENERAL ??

DEBIT AND CREDIT?

Calculate the year-end adjusted balances of Accumulated Depreciation and Depreciation Expense (assuming the balance of Accumulated Depreciation at the beginning of 2015 is $0).
Ending Balance Accumulated depreciation? Depreciation expense?