Reporting Depreciation The adjusted trial balance for Rowdy Profits Corporation reports that its equipment had cost $250,000. For the current year, the company has recorded $30,000 of depreciation, which brings the total depreciation to date to $150,000. 11eb7f6e_0132_369a_9b93_378fd36108dc_SM1709_00 Required: Using the headings shown above, indicate the location and amounts that would be used to report the three items on the company's balance sheet and income statement.

Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

النسخة 4الرقم المعياري الدولي: 978-0078025372

Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

النسخة 4الرقم المعياري الدولي: 978-0078025372

تمرين 30

Reporting Depreciation
The adjusted trial balance for Rowdy Profits Corporation reports that its equipment had cost $250,000. For the current year, the company has recorded $30,000 of depreciation, which brings the total depreciation to date to $150,000.

Required:
Using the headings shown above, indicate the location and amounts that would be used to report the three items on the company's balance sheet and income statement.

التوضيح

موثّق

Cost of the equipment should be shown in...