Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. what is the journal entry to record year 1 depreci

what is the journal entry to record year 1 depreciation for a non manufacturing company?...

70.2K

Verified Solution

Question

Accounting

what is the journal entry to record year 1 depreciation for a non manufacturing company?

image

Use the following information to answer Questions 28-30: On January 2, 2018 a company purchases a machine for $11,000 and estimates that it will have a 10-year life and a residual value of $1,000. It is depreciating the machine for book purposes under the straight-line method. 28. What is the journal entry to record Year 1 depreciation for a nonmanufacturing company? 1,000 a. Depreciation Expense Accumulated Depreciation-Machine 1,000 1,000 b. Inventory-Work-In-Process OH Accumulated Depreciation-Machine 1,000 c. Depreciation Expense Accumulated Depreciation Machine 4,000 4,000 1,000 d. Inventory-Work-In-Process OH Depreciation Expense 1,000 11000 Soooo 11000

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Coastal Soda Sales has been granted exclusive market rights to the upcoming Beaufort Seafood Festival. This...

Basic Math
Q

A uniform ladder stands on a rough floor and rests against a frictionless wall as shown...

Physics
Q

CD UPB 2016 09 umericals The average distance of the sun from a planet is...

Physics
Q

A square has a diagonal that is 48 m long What is the area of...

Geometry
Q

Solve for the value of a 6a 1 2a 3

Geometry
Q

From 70 C 95 C 175 C and 375 Choose the temperature that best re

Algebra
Q

Bramble Company had a beginning imventory of 118 units of Product RST at a cost...

Accounting
Q

E9-2B. Budget Preparation Reeves Company is preparing its master budget for July. Use the given...

Accounting
Q

University Printers has two service departments (Maintenance and Personnel) and two operating departments (Printing and...

Accounting
Q

. (TCO F) On January 1, 2011, Veldon Co., a U.S. corporation with the U.S....

Accounting
Q

Question 21 (4 points) Assume $1 is currently equal to .7658. Also, assume the expected...

Finance
Q

YIELD TO MATURITY Harrimon Industries bonds have 5 years left to maturity. Interest is paid...

Finance