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what is the journal entry to record year 1 depreciation for a non manufacturing company? Use the following information to answer Questions 28-30: On January
what is the journal entry to record year 1 depreciation for a non manufacturing company?
Use the following information to answer Questions 28-30: On January 2, 2018 a company purchases a machine for $11,000 and estimates that it will have a 10-year life and a residual value of $1,000. It is depreciating the machine for book purposes under the straight-line method. 28. What is the journal entry to record Year 1 depreciation for a nonmanufacturing company? 1,000 a. Depreciation Expense Accumulated Depreciation-Machine 1,000 1,000 b. Inventory-Work-In-Process OH Accumulated Depreciation-Machine 1,000 c. Depreciation Expense Accumulated Depreciation Machine 4,000 4,000 1,000 d. Inventory-Work-In-Process OH Depreciation Expense 1,000 11000 Soooo 11000
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