S 2.1 s 3:1 Prepare adjusting entry for depreciation. BE3.4 (L03), AP At the end of its first year, the trial balance of Wolowitz Company shows Equipment $30,000 and zero balances in Accumulated Depreciation --Equipment and Depreciation Expense Depreciation for the year is estimated to be $3.750. Prepare the annual adjusting entry for depreciation at December 31, post the adjustments to T-accounts, and indicate the balance sheet presentation of the equipment at December 31. Duanwa ndihina anterior rennidamener 3-2