Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 17 Problem 17-14
1. Tools 40,000
Cash 40,000
2. Tools 20,000 Cash 20,000
3. Cash 4,000
Tools 4,000
4. Depreciation 46,000
Tools 46,000
Balance of tools account 196,000
Less: Estimated cost on December 31 150,000
Depreciation 46,000
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