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.
Definitions:
Conjugation
A form of genetic exchange between bacteria where genetic material is transferred from one bacterium to another through direct contact.
Circular Chromosome
A type of chromosome common in bacteria and archaea, characterized by a circular DNA molecule that lacks a telomere and where replication occurs in a bidirectional manner.
Ribosomes
Small cellular structures that are the sites of protein synthesis in living cells.
Cell Wall
Cellular structure that surrounds a plant, protistan, fungal, or bacterial cell and maintains the cell’s shape and rigidity; composed of polysaccharides.
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