On April 1, 2010, SAS Corp Make the Necessary Adjusting Journal Entries at December 31, 2010

question 125

Essay

On April 1, 2010, 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, 2010 and December 31, 2010 to record depreciation for each year under the following depreciation methods:
a. Straight-line
b. Double-declining-balance.

---

Definitions:

Dreamers

Individuals who often engage in vivid fantasies or aspirations, sometimes reflecting unconscious desires and motivations.

Bizarre

Bizarre describes something very strange or unusual, often eliciting curiosity or fascination.

Partial Sleep Deprivation

Involves not getting enough sleep, either by reducing the total nightly sleep time or interrupting sleep, leading to adverse health effects.

Sleep Restriction

A behavioral therapy technique for insomnia, involving limiting the amount of time spent in bed to the actual time spent asleep, thereby increasing sleep efficiency.