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

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

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

Answer

Brief Explanations:

When allocating the cost of equipment (depreciation), the expense account (Depreciation Expense - Equipment) is debited to recognize the cost for the period. The contra - asset account (Accumulated Depreciation - Equipment) is credited as it accumulates the depreciation amount over time.

Answer:

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