Answered: Post the adjustments to T-accounts.…

Business

Accounting

Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 9MC: If an adjustment includes an entry to Accumulated Depreciation, which type of adjustment is it? A....

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Question

At the end of its first year, the trial balance of Pharoah Company shows Equipment $22,800 and zero balances in Accumulated Depreciation—Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,000.

Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.)
Depreciation Expense
Accumulated Depreciation- Equipment

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