Based on the depreciation balances and the equipment, the adjustments to the T-accounts and the Balance sheet will be:
Date Account title Debit Credit
December 31 Depreciation expense $3,750
Accumulated depreciation on $3,750
equipment
T account
Depreciation expense Equipment
December 31 $3,750
T account
Accumulated Depreciation on Equipment
December 31 $3,750
Balance sheet presentation
Assets
Property, Plant, and Equipment:
Equipment $30,000
Less: Accumulated depreciation <u> ($3,750) </u>
Equipment (Net book value) <u> $26,250</u>
<h3>What are the entries?</h3>
Depreciation of $3,750 will be debited to the depreciation expense account. The accumulated depreciation account will be credited by the same amount.
In the balance sheet, the equipment value will be reduced by the depreciation amount to $26,250.
Find out more on depreciation at brainly.com/question/1287985.
