객관식
What will be the book value of the asset after two years?
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목차
- 1. Introduction to Accounting40m
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- 28. Capital Budgeting46m
3. Accrual Accounting Concepts
Adjusting Entries: Depreciation
객관식
On January 1, Super Car Wash purchases a brand new auto-washing machine on account for \$40,000. The company expects the machine to last eight years. The company chose the 'straight-line' method to depreciate the asset, expecting no salvage value. The adjusting entry at the end of the first year would include:
A
Debit Depreciation Expense \$5,000; Credit Accumulated Depreciation \$5,000
B
Debit Accumulated Depreciation \$5,000; Credit Depreciation Expense \$5,000
C
Debit Depreciation Expense \$40,000; Credit Accumulated Depreciation \$40,000
D
Debit Accumulated Depreciation \$40,000; Credit Depreciation Expense \$40,000
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