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    ddeleo2's Avatar
    ddeleo2 Posts: 1, Reputation: 1
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    #1

    Nov 1, 2009, 09:52 AM
    What is the adjusting entry for depreciation?
    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's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Nov 1, 2009, 11:56 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.
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