Great Lakes Modeling Agency purchased $800 of office furniture at the beginning of the month.Depreciation Expense at the end of the month is $200.What is the balance of the Office Furniture account at the end of the month?

Question

Quizplus · Accepted Answer

The balance of the Office Furniture account at the end of the month is the original cost minus the depreciation expense. Therefore, the balance is $800 - $200 = $600. So, the correct choice is D.

Great Lakes Modeling Agency Purchased $800 of Office Furniture at the Beginning