On April 1, Year 1, SAS Corp. purchased and placed in service an item of property, plant and equipment. The following information is available regarding the item of property, plant and equipment:
Make the necessary adjusting journal entries at December 31, Year 1, and December 31, Year 2 to record depreciation for each year under the following depreciation methods:
a. Straight-line.
b. Double-declining-balance.

Question

On April 1, Year 1, SAS Corp. purchased and placed in service an item of property, plant and equipment. The following information is available regarding the item of property, plant and equipment:
  Make the necessary adjusting journal entries at December 31, Year 1, and December 31, Year 2 to record depreciation for each year under the following depreciation methods:
a. Straight-line.
b. Double-declining-balance.

Quizplus · Accepted Answer

The Answer of On April 1, Year 1, SAS Corp. purchased and placed in service an item of property, plant and equipment. The following information is available regarding the item of property, plant and equipment:
  Make the necessary adjusting journal entries at December 31, Year 1, and December 31, Year 2 to record depreciation for each year under the following depreciation methods:
a. Straight-line.
b. Double-declining-balance.