Question $5$ of $10$

On July $1,2022,$ Cullumber Company purchased new equipment for $$102,400.$ Its estimated usefullife was $7$ vears with a $$12,800$ salvage value On January $1,2025,$ the company estimated that the equipment s remaining useful life was $10$ years, with a revised salvage vilue or $36,400.$

Prepare the joumal entry to recerd depreciation on December $31,2022.$ Ust deblt entry befort credit entry Credit account titles ore dutomatically indented when amount is entered. Do not indent monually. II no entry is required, select $"$No Entry" for the account titles and enter ofor the amounts$)$

Account Treses and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

Prepare the journal entry to record depreciation on December $31,2023.$ Wist debit entry before credit entry Credit occount vitles are automaticalily indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter ofor the amounts$)$

Account Tites and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

Compute the revised annual depreciation on December $31\mathrm{.}2025.$

Revised annual depreciation

s

eTextbook and Media

List of Accounts

Prepare the journal entry to record depreciation on December $31,2025.($Ulist debit entry before credit entrx Credit occount titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the occount titles and enter O for the amounts$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Medis

List of Accounts.

Compute the balance in Accumulated Depreciation $-$ Equipment for this equipment after depreciation expense has been recorded on December $31\mathrm{.}2025.$

Accumulated Depreciation$-$Equipment

$

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