ee Small Company has an asset that was just purchased. The cost of the asset was $72,000. The company has determined that the salvage is $2,000, and the life of the asset is five years. Depreciation is to be straight-line. Journalize the entry to record depreciation for the first year of the asset’s life: Question 6 options: DR Accumulated Depreciation 14,000 CR Depreciation Expense 14,000 ________________________________________ DR Depreciation Expense 14,000 CR Accumulated Depreciation 14,000 ________________________________________ DR Accumulated Depreciation 14,400 CR Depreciation Expense 14,400 ________________________________________ DR Depreciation Expense 14,400 CR Accumulated Depreciation 14,400
Wee Small Company has an asset that was just purchased. The cost of the asset was $72,000. The company has determined that the salvage is $2,000, and the life of the asset is five years.
Question 6 options:
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DR CR Depreciation Expense 14,000 ________________________________________ |
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DR Depreciation Expense 14,000 CR Accumulated Depreciation 14,000 ________________________________________ |
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DR Accumulated Depreciation 14,400 CR Depreciation Expense 14,400 ________________________________________ |
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DR Depreciation Expense 14,400 CR Accumulated Depreciation 14,400 |
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