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:
Cognitive Development
The process of growth and change in intellectual capabilities that occurs as people age, involving learning, memory, problem-solving, and decision-making.
Formal Operational
The stage of cognitive development in Piaget’s theory characterized by the ability to think logically about abstract concepts.
Advanced Moral Reasoning
Advanced moral reasoning is a level of ethical thinking that goes beyond personal or cultural norms to consider the greater good and principles of justice, fairness, and human rights.
Preconventional
A stage in moral development where individuals' moral reasoning is based primarily on consequences and personal benefits.
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