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please answer in proper order Mcan Beans, a local coffee shop, has the...

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Accounting

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please answer in proper order

Mcan Beans, a local coffee shop, has the followng assets on January 1, 2023. Mean Beans prepares annual financial statements and has a December 31,2023 year-end. The company's depreciation policy is to use the straightline method to depreciate ifs assets 0. On January 1, 2023, purchase equipment costing $20,200 with an estimated life of five years. Mean Beans will scrap the equipment after five years for $0 b. On July 1,2023, purchase furniture (tables and chairs) costing $21,500 with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $4,900 after ten years. c. On January 1, 2021, Mean Bcans had purchased a car costing $19,250 with an estimated life of eight years Mean Beans estimates that it can sell the car for $3,850 after eight years. Required: 1-0. For each trarisaction, calculate the current year's annual depreciation expense. 1-b. For each transaction, record the adjusting entry on December 31, 2023

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