Dr depreciation expense, Credit non-current assets is the correct double entry to record the annual depreciation charge on non-current assets.

Question

Quizplus · Accepted Answer

The correct double entry to record the annual depreciation charge on non-current assets is: Dr Depreciation Expense, Cr Accumulated Depreciation. Accumulated Depreciation is a contra asset account used to record the total depreciation of an asset over time, not a direct decrease in the non-current asset account itself.

Dr Depreciation Expense, Credit Non-Current Assets Is the Correct Double