Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. debit and credit are wrong. required informat

Debit and Credit are wrong. Required information Exercise 11-23 (Static)...

80.2K

Verified Solution

Question

Accounting

Debit and Credit are wrong.
image
Required information Exercise 11-23 (Static) Change in estimate; useful life and residual value of equipment (LO11-2, 11-5) [The following information applies to the questions displayed below) Wardell Company purchased a mainframe on January 1, 2019, at a cost of $40,000. The computer was depreciated using the straight line method over an estimated five-year life with an estimated residual value of $4.000. On January 1, 2021 the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $900. Exercise 11-23 (Static) Part 1 Required: 1. Prepare the year-end journal entry for depreciation in 2021. No depreciation was recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar.) View transaction list View Journal entry worksheet No Event 1 Credit 1 General Journal Depreciation expense Accumulated depreciation--computer Debit 3.889 3,880

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Find where the graph is increasing and decreasing 10

Basic Math
Q

Describe the cartilaginous structures of the respiratory system of cats.

Medical Sciences
Q

A MET office employee, who is standing still, observes a storm coming towards him at 15...

Physics
Q

1- Aliasing can affect DFTs, where higher frequency signals can appear as lower frequency signals due...

Electrical Engineering
Q

If a transparent parallel plate of uniform thickness t and refractive index u is interposed...

Physics
Q

the diagram GH bisects ZFGI Solve for x and find mZFGH 5 Find mZHGI C...

Geometry
Q

5 An atom that emits energy because of nuclear decay is considered OA radioactive OB...

Basic Math
Q

q is inversely proportional to p3 When p 2 q 5 P 9 2 5...

Basic Math
Q

The Schwimmers cost for cable television is gi is the number of months of service...

Calculus
Q

1 Required information The following information applies to the questions displayed below) Romirez Company installs...

Accounting
Q

Compute the total Medicare tax for the following taxpayers. If required, round your answers to...

Accounting
Q

a) In your own words define a call option (in general any asset). Describe...

Finance