Question(d) [2 Points] On " ABC " Company purchased equipment for . The equipment has an estimated useful life and salvage value of 20 years and , respectively. At the end of the financial period, the accountant recorded the adjusting entry for the depreciation by debiting depreciation expense and crediting equipment
Studdy Solution
Verify the recorded depreciation expense. The calculated annual depreciation is \$12,000, which matches the recorded depreciation expense.
The recorded depreciation expense of \$12,000 is correct based on the straight-line depreciation method.
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