Atruck costs $9,000 with a residual value of $1,000.
the truck is expected to have a useful life of 40,000
miles. by assuming the truck is driven 10,000 miles the
first year, the depreciation expense would be (blank).
mamma
o $2,500
$250
o $200
o $2,000

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.