Exercise A Algo Recording manufacturing overhead costs in Taccounts LO
Fanning Corporation manufactures model airplanes. The company purchased for $ automated production equipment that can make the model parts. The equipment has a $ salvage value and a year useful life.
Required
a Assuming that the equipment was purchased on January record in Taccounts the adjusting entry that the company would make on December to record depreciation on equipment.
tableAccumulated Depreciation,Manufacturing OverheadDebitCredit,Debit,CreditDepreciation Expense,,DebitCrediz,,
