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Exercise 11-8A (Algo) Recording manufacturing overhead costs in T-accounts LO 11-2 Fanning Corporation...

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Accounting

Exercise 11-8A (Algo) Recording manufacturing overhead costs in T-accounts LO 11-2
Fanning Corporation manufactures model airplanes. The company purchased for $215,000 automated production equipment that can make the model parts. The equipment has a $17,000 salvage value and a 11-year useful life.
Required
a. Assuming that the equipment was purchased on January 1, record in T-accounts the adjusting entry that the company would make on December 31 to record depreciation on equipment.
\table[[Accumulated Depreciation,Manufacturing Overhead],[Debit,Credit,Debit,Credit],[,,,],[Depreciation Expense,,],[Debit,Crediz,,],[,,,]]
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