On january 1, a company purchased equipment that cost $10,000. the company has not yet recorded depreciation, which is estimated at $1,800 per year. the company will prepare financial statements at the end of january. complete the necessary journal entry. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

depreciation expense 1,800 debit

   accumulated expense - equipment   1,800 credit

--- to record depreciation adjusting entry ---

Explanation:

the copany will do the depreciation adjusting entry at year-end

it will declare the depreciation expense for 1,800 and "store" it on the accumulated depreciation equipment to adjust the net value of the equipment in the balance sheet

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.