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question at the end of its first year the trial balance of ivanhoe company shows equ 4281121

Question

At the end of its first year, the trial balance of Ivanhoe Company shows Equipment $21,700 and zero balances in Accumulated Depreciation—Equipment and Depreciation Expense. Depreciation for the year is estimated to be $4,100.

Indicate the balance sheet presentation of the equipment at December 31.

Date Account Titles and Explanation Debit Credit Dec. 31 SHOW LIST OF ACCOUNTS Post the adjustments to T-accounts. (Post entries in the order of journal entries presented in the previous part.) Depreciation Expense Accumulated Depreciation-Equipment SHOW LIST OF ACCOUNTS

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