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quick please In 2021, the controller of Solia Inc, discovered that in 2019 the company had debited research and development expense for the $800,000 cost
quick please In 2021, the controller of Solia Inc, discovered that in 2019 the company had debited research and development expense for the $800,000 cost of an office equipment purchased on June 30, 2019. The equipment had an expected life of 10 years with no residual value. Solla uses straight-line depreciation and would have calculated partial year depreciation based on the number of months an asset is in service, Solia's fiscal year end is December 31 Required: Prepare the necessary correcting entry that would be made in 2021, prior to making adjusting entries (ignore Income taxes). and the entry to record depreciation for 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction lint Journal entry worksheet 1 2 Record the correcting entry. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal Journal entry worksheet 1 Record the depreciation for 2018. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal
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