Depreciation : Depreciation can be defined as wear and tear of assets due to its use over the period of time. (a) To record: To record the journal entry of depreciation for the year 2018.

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Chapter 22, Problem 14E

To determine

Depreciation: Depreciation can be defined as wear and tear of assets due to its use over the period of time.

(a)

To record: To record the journal entry of depreciation for the year 2018.

To determine

(b)

To prepare: To prepare the income statement for the years 2017 and 2018.

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