An adjusting entry is prepared when the
Depreciation expense is the written down value of the tangible asset at the end of each accounting year. Accumulated Depreciation is a contra-asset account which is used to accumulate the depreciation expense amount on the related tangible asset, and which is deducted from the cost of the asset to show the real worth of the asset at the end of the each accounting period.
A balance sheet is a financial statement consists of the assets, liabilities, and the
To prepare: the annual adjusting entries for depreciation, post the adjustments to T-accounts, and indicate the accumulated depreciation on the balance sheet.

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Chapter 4 Solutions
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
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