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Author Question: On January 1, 2011, Truckin, Inc. purchased a 100,000 truck with an estimated useful life of 10 ... (Read 108 times)

elizabeth18

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on: Jul 5, 2018
On January 1, 2011, Truckin, Inc. purchased a 100,000 truck with an estimated useful life of 10 years and a 0 residual value. The adjusting entry to record depreciation on the truck for the year ended December 31 will include a ________.
 
  A) credit to Truck of 10,000
  B) credit to Depreciation expense of 10,000
  C) credit to Accumulated depreciation of 10,000
  D) debit to Accumulated depreciation of 10,000

Question 2

Estimated Returns Inventory is an account used when adjusting for expected merchandise sales in the next period.
 a. True
  b. False
 
   Indicate whether the statement is true or false


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Kingjoffery

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

False


elizabeth18

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Reply #2 on: Jul 5, 2018
Correct answers!


Kingjoffery

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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