Equipment Was Purchased by Noland Manufacturing on January 1, 2022

question 253

Multiple Choice

Equipment was purchased by Noland Manufacturing on January 1, 2022, for $125,000.Noland's policy is to adjust its accounts at year-end.Which is the appropriate journal entry to record depreciation at year-end if the company expects to use equipment consistently for five years? In the choices below, as per convention, debits are listed first followed by credits.

• A)Dr Depreciation Expense - Equipment $25,000 Cr Accumulated Depreciation - Equipment $25,000
• B)Dr Accumulated Depreciation - Equipment $25,000 Cr Depreciation Expense - Equipment $25,000
• C)Dr Depreciation Expense - Equipment $25,000 Cr Equipment $25,000
• D)Dr Accumulated Depreciation - Equipment $25,000 Cr Equipment $25,000

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A steroid hormone measured in the blood, which plays a key role in the body's stress response and regulating metabolism.

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Managed or governed according to rules or principles to maintain order or regulation.