Solved: Prepare the entry to record one years depreciation expense, Cost Accounting

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Prepare the entry to record one years depreciation expense

Carlos Company purchases $30,000 of equipment on January 1, 2011. The equipment is expected to last five years and be worth $5,000 at the end of that time. Prepare the entry to record one years depreciation expense of $5,000 for the equipment as of December 31, 2011. (In cases where no entry is required, please select the option "No journal entry required" for your answer to grade correctly.)

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Cost Accounting: Prepare the entry to record one years depreciation expense

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