journal entry worksheet\n1 2 3 4 5 6\ndepreciation on the companys equipment for the year is computed to be…
journal entry worksheet\n1 2 3 4 5 6\ndepreciation on the companys equipment for the year is computed to be $15,000.\nnote: enter debits before credits.\ntransaction general journal debit credit\na.
Answer
Explanation:
Step1: Identify the accounts affected
Depreciation expense is debited as it is an expense, and accumulated - depreciation (a contra - asset account) for equipment is credited.
Step2: Record the amounts
Debit depreciation expense for $15,000 and credit accumulated - depreciation - equipment for $15,000.
Answer:
| Transaction | General Journal | Debit | Credit |
|---|---|---|---|
| a. | Depreciation Expense | $15,000 | |
| Accumulated - Depreciation - Equipment | $15,000 |