Depreciation on equipment for the year is $3,600. a. Record the journal entry if the company prepares adjustments once a year. If an amount box does not require an entry, leave it blank. fill in the blank b11d55fe2033026_2 fill in the blank b11d55fe2033026_3 fill in the blank b11d55fe2033026_5 fill in the blank b11d55fe2033026_6 b. Record the journal entry if the company prepares adjustments on a monthly basis. If an amount box does not require an entry, leave it blank.
Depreciation Methods
The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.
Depreciation Accounting
In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.
a. Record the
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b. Record the journal entry if the company prepares adjustments on a monthly basis. If an amount box does not require an entry, leave it blank.
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