When recording an adjustment for the use of equipment during the current accounting period,which two accounts are affected?
A)Accumulated Depreciation and Depreciation Expense
B)Equipment and Depreciation Expense
C)Accumulated Depreciation and Equipment
D)Revenue and Equipment

Question

Quizplus · Accepted Answer

This adjustment affects Accumulated Depreciation,a contra-asset account,and Depreciation Expense.

When Recording an Adjustment for the Use of Equipment During