Depreciation on equipment for the year is $3,600. a. Record the journal entry if the company prepares adjustments once a year. If an amount box does not require an entry, leave it blank.     fill in the blank b11d55fe2033026_2 fill in the blank b11d55fe2033026_3     fill in the blank b11d55fe2033026_5 fill in the blank b11d55fe2033026_6 b. Record the journal entry if the company prepares adjustments on a monthly basis. If an amount box does not require an entry, leave it blank.

Depreciation for Partial Periods: Hathaway Company purchased a copying machine for $8,700 on October 1, 2019. The machine's residual value was $500 and its expected service life was 5 years. Hathaway computes depreciation expense to the nearest whole month. Required: Compute depreciation expense for 2019 and 2020 using the following methods: (Round your answers to the nearest dollar.) Straight-line method 2019 $ fill in the blank 2020 $ fill in the blank 2 Sum-of-the-years'-digits method 2019 $ fill in the blank  2020 $ fill in the blank  Double-declining-balance method 2019 $ fill in the blank 5 2020 $ fill in the blank 6 Next Level Which method produces the highest book value at the end of 2020? Next Level Which method produces the highest charge to income in 2020? Next Level Which of the following statements regarding depreciation is/are correct? All methods result in higher depreciation expense in the early years of the life of the asset. All methods result in the same total amount…

Wolfpack Corp. has determined it should record depreciation expense of $40,000 for the year ending 12/31/X7. Required: In the general journal below, complete the year-end entry to record depreciation.     Debit Credit Dec 31 ? 40,000            ?   40,000

On July 1, Andrew Company purchased equipment at a cost of $150,000 that has a depreciable cost of $120,000 and an estimated useful life of 3 years or 60,000 hours. a.  Using straight-line depreciation, prepare the journal entry to record depreciation expense for the first year ending December 31. If an amount box does not require an entry, leave it blank.     - Select - - Select -     - Select - - Select -   b.  Using straight-line depreciation, prepare the journal entry to record depreciation expense for the second year ending December 31. If an amount box does not require an entry, leave it blank.     - Select - - Select -     - Select - - Select -   c.  Using straight-line depreciation, prepare the journal entry to record depreciation expense for the last year ending December 31. If an amount box does not require an entry, leave it blank.     - Select - - Select -     - Select - - Select -