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Exercise 11-8A (Algo) Recording manufacturing overhead costs in T-accounts LO 11-2 Rundle Corporation...

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Accounting

Exercise 11-8A (Algo) Recording manufacturing overhead costs in T-accounts LO 11-2
Rundle Corporation manufactures model airplanes. The company purchased for $179,000 automated production equipment that can make the model parts. The equipment has a $17,000 salvage value and a 9-year useful life.
Required
a. Assuming that the equipment was purchased on January 1, record in T-accounts the adjusting entry that the company would make on December 31 to record depreciation on equipment.
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