The adjusting entry for depreciation would include a:
A) debit to Depreciation expense and a credit to Cash.
B) debit to Accumulated depreciation and a credit to Depreciation expense.
C) debit to Accumulated depreciation and a credit to the asset.
D) debit to Depreciation expense and a credit to Accumulated depreciation.

Question

Quizplus · Accepted Answer

The adjusting entry for depreciation involves recognizing the portion of an asset's value that has been used up or consumed over time. This is typically done by debiting the Depreciation expense account and crediting the Accumulated depreciation account. Choice D correctly reflects this entry by debiting Depreciation expense and crediting Accumulated depreciation.

The Adjusting Entry for Depreciation Would Include A