Cleaning equipment was used by Cary’s Carpet Cleaning, Inc. in April to generate revenues. The company estimates $2,400 of depreciation each year. Complete the necessary adjustment for the month of April. Record the depreciation on cleaning equipment for the month April 30.

Cleaning equipment was used by Cary’s Carpet Cleaning, Inc. in April to generate revenues. The company estimates $2,400 of depreciation each year. Complete the necessary adjustment for the month of April. Record the depreciation on cleaning equipment for the month April 30.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Cleaning equipment was used by Cary’s Carpet Cleaning, Inc. in April to generate revenues. The company estimates $2,400 of depreciation each year.

Complete the necessary adjustment for the month of April.

Record the depreciation on cleaning equipment for the month April 30.

Required information
Knowledge Check 01
Cleaning equipment was used by Cary's Carpet Cleaning, Inc. in April to generate revenues. The company estimates $2,400 of
depreciation each year.
Complete the necessary adjustment for the month of April. (If no entry is required for a transaction/event, select "No Journal Entry
Required" In the first account field.)
View transaction list
Journal entry worksheet
< A
Record the depreciation on cleaning equipment for the month April 30.
Note: Enter debits before credits.
Event
1
Record entry
General Journal
Clear entry
Debit
Credit
View general journal

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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