The entry to record periodic depreciation of $4,500 on office facilities is as follows:
A) Depreciation (or Administrative) Expense . . . . . . . . . 4,500
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . 4,500
B) Accumulated Depreciation . . . . . . . . . . . . . . . 4,500
Depreciation (or Administrative) Expense . . . . . . . . . . . . . 4,500
C) Depreciation (or Administrative) Expense . . . . . . . . . . . . 4,500
Office Facilities . . . . . . . . . . . . . . . . . . . 4,500
D) Office Facilities . . . . . . . . . . . . . . . . 4,500
Depreciation (or Administrative) Expense . . . . . . . . . . 4,500
E) none of the above

Question

The entry to record periodic depreciation of $4,500 on office facilities is as follows:
A) Depreciation (or Administrative) Expense . . . . . . . . .   4,500 
  Accumulated Depreciation . . . . . . . . . . . . . . . . . . . 4,500 
B) Accumulated Depreciation . . . . . . . . . . . . . . . 4,500 
  Depreciation (or Administrative) Expense . . . . . . . . . . . . . 4,500 
C) Depreciation (or Administrative) Expense . . . . . . . . . . . .   4,500 
  Office Facilities . . . . . . . . . . . . . . . . . . . 4,500 
D) Office Facilities . . . . . . . . . . . . . . . . 4,500 
  Depreciation (or Administrative) Expense . . . . . . . . . . 4,500 
E) none of the above

Quizplus · Accepted Answer

The correct entry to record depreciation involves debiting the Depreciation Expense account and crediting the Accumulated Depreciation account. This reflects the expense recognition and the accumulation of depreciation over time, without reducing the original cost of the asset directly.

The Entry to Record Periodic Depreciation of $4,500 on Office