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ddeleo2
Nov 1, 2009, 08:52 AM
What is the adjusting entry on 12/31/95 for annual depreciation as a % cost for building 3%; equipment 12% ?

unadjusted trial balance:

Db Building 144,000
Cr accumlated depr. building 16,200

Db Equipment 58,000
Cr accumlated depre. 13,920
morgaine300
Nov 1, 2009, 10:56 PM
Depreciation is always a debit to Depreciation Expense and a credit to Accumulated Depreciation.

As for the dollar amounts, literally figure those percentages they gave you.