On April 1,2012,SAS Corp Make the Necessary Adjusting Journal Entries at December 31,2012,and December

question 68

Essay

On April 1,2012,SAS Corp.purchased and placed in service a plant asset.The following information is available regarding the plant asset:
$$\begin{array} { | l | r | } \hline \text { Acquisition cost } & \$ 130,000 \\\hline \text { Estimated salvage value } & \$ 15,000 \\\hline \text { Estimated useful life } & 5 \text { years } \\\hline\end{array}$$
Make the necessary adjusting journal entries at December 31,2012,and December 31,2013,to record depreciation for each year under the following depreciation methods:
a.Straight-line
b.Double-declining-balance.

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