PB7. LO 4.3 Using the following information, A. Make the December 31 adjusting journal entry for depreciation. B. Determine the net book value (NBV) of the asset on December 31. • Cost of asset, $195,000 Accumulated depreciation, beginning of year, $26,000 Current year depreciation, $13,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 7PB: Using the following information, A. Make the December 31 adjusting journal entry for depreciation....
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PB7. LO 4,3 Using the following information,
A. Make the December 31 adjusting journal entry for depreciation.
B. Determine the net book value (NBV) of the asset on December 31.
• Cost of asset, $195,000
Accumulated depreciation, beginning of year, $26,000
• Current year depreciation, $13,000
Transcribed Image Text:PB7. LO 4,3 Using the following information, A. Make the December 31 adjusting journal entry for depreciation. B. Determine the net book value (NBV) of the asset on December 31. • Cost of asset, $195,000 Accumulated depreciation, beginning of year, $26,000 • Current year depreciation, $13,000
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