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Leya [2.2K]
3 years ago
12

Suppose a manufacturing plant purchased a new heating system in December, 2015 and, after installing and testing the equipment,

it was put into service on January 1, 2016. The total cost to put the equipment into service was $55,000; it is expected to have a useful life of 5 years and a salvage value of $5,000.
Required:
Using the straight-line method of depreciation, what will the entry be to record depreciation for the 6 months ending June 30, 2016?
Business
1 answer:
Andreas93 [3]3 years ago
3 0

Answer:

Depreciation for 6 months ending June 30, 2016 is $ 5,000 and the accounting entry to record the transaction is:

Depreciation Expense  - Debit                    $ 5,000

Allowance for Depreciation  - Credit           $ 5,000  

Explanation:

pls branliest! :)

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IT'S D

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2 years ago
As the accountant for Marston Retail Stores, you must calculate the current ratio for the firm's last accounting period. The fir
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Answer:

1.5

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In 2020, HD had reported a deferred tax asset of $130 million with no valuation allowance. At December 31, 2021, the account bal
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