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Author Question: Depreciation on equipment for the year is 6,300. (a) Record the journal entry if the company adjusts ... (Read 122 times)

geodog55

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on: Jul 5, 2018
Depreciation on equipment for the year is 6,300. (a) Record the journal entry if the company adjusts its account once a year. (b) Record the journal entry if the company adjusts its account on a monthly basis.

Question 2

Adjustments to Enterprise Funds to prepare the government-wide financial statements will mostly be limited to
 
  A. Changes in measurement focus adjustments.
  B. Changes in basis of accounting adjustments.
  C. Internal Service Fund adjustments.
  D. Changes in budgetary basis adjustments.


abctaiwan

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

(a)
Depreciation Expense
Accumulated Depr. - Equipment
(b)
Depreciation Expense (6,300/12)
6,300

525

6,300
Accumulated Depr. - Equipment 525

Answer to Question 2

C


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