The adjusted trial balance on the worksheet shows Accumulated Depreciation, $1,000, and Depreciation Expense, $700. What was the balance in the Accumulated Depreciation account before the adjustment?
A) $1,700
B) $300
C) $700
D) $1,000

Question

Quizplus · Accepted Answer

The balance in the Accumulated Depreciation account before the adjustment was $300. The adjustment of $700 in Depreciation Expense increased the Accumulated Depreciation to $1,000.

The Adjusted Trial Balance on the Worksheet Shows Accumulated Depreciation