The accounts of The Tool Bin Inc.at the end of 2014,showed the tools account as follows: $\begin{array} { l }
\text {Beginning balance. }&\$12,000 \ \text { New tools purchased during 2001}&3,000 \
\end{array}$
At the end of 2014,the tools were inventoried at "cost in present condition" as $12,500.The amount of the adjusting entry for amortization expense at the end of 2014,assuming the inventory/appraisal system,should be $_________________________.

Question

The accounts of The Tool Bin Inc.at the end of 2014,showed the tools account as follows: $\begin{array} { l  }
 \text {Beginning balance. }&\$12,000 \ \text { New tools purchased during 2001}&3,000 \
\end{array}$
 At the end of 2014,the tools were inventoried at "cost in present condition" as $12,500.The amount of the adjusting entry for amortization expense at the end of 2014,assuming the inventory/appraisal system,should be $_________________________.

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The Answer of The accounts of The Tool Bin Inc.at the end of 2014,showed the tools account as follows: $\begin{array} { l  }
 \text {Beginning balance. }&\$12,000 \ \text { New tools purchased during 2001}&3,000 \
\end{array}$
 At the end of 2014,the tools were inventoried at "cost in present condition" as $12,500.The amount of the adjusting entry for amortization expense at the end of 2014,assuming the inventory/appraisal system,should be $_________________________.

The Accounts of the Tool Bin Inc Beginning balance. $12,000 New tools purchased during 20013,000\begin{array} { l } \text {Beginning balance. }&\$12,000 \\ \text { New tools purchased during 2001}&3,000 \\\end{array}Beginning balance. New tools purchased during 2001​$12,0003,000​

The Accounts of the Tool Bin Inc $\begin{array} { l } \text {Beginning balance. }&\$12,000 \\ \text { New tools purchased during 2001}&3,000 \\\end{array}$