which account is debited and credited in the adjusting entry to allocate the cost of equipment?\na. debit…

which account is debited and credited in the adjusting entry to allocate the cost of equipment?\na. debit accumulated depreciation - equipment; credit depreciation expense - equipment\nb. debit depreciation expense - equipment; credit accumulated depreciation - equipment\nc. debit depreciation expense - equipment; credit equipment\nd. debit accumulated depreciation - equipment; credit equipment

which account is debited and credited in the adjusting entry to allocate the cost of equipment?\na. debit accumulated depreciation - equipment; credit depreciation expense - equipment\nb. debit depreciation expense - equipment; credit accumulated depreciation - equipment\nc. debit depreciation expense - equipment; credit equipment\nd. debit accumulated depreciation - equipment; credit equipment

Answer

Brief Explanations:

When allocating the cost of equipment (depreciation), Depreciation Expense is debited (as expenses increase with a debit) and Accumulated Depreciation - Equipment is credited (as contra - asset accounts increase with a credit).

Answer:

B. Debit Depreciation Expense - Equipment; Credit Accumulated Depreciation - Equipment