On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the appropriate adjustment to make on december 31 of the first year would be

To determine the appropriate adjustment to make on December 31 of the first year for depreciation on photocopy machine;

It is given that the annual depreciation on the machine is $1,680. The machine was purchased on August 1 and the company prepares annual financial statements on December 31, so the adjustment of the depreciation expense shall be made for the period (August 1 to December 31) = 5 months

The depreciation for 5 months shall be = 1680*5/12 = $700

Hence, the adjustment at the end of the year shall be made for Depreciation expense of $700.

The Adjusting entry shall be as follows:

Depreciation Expense Debit $700

Accumulated Depreciation Credit $700

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