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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Which of the following entries is necessary to close the appropriate depreciation account at the end of the year?
A) debit Accumulated Depreciation and credit Income Summary
B) debit Income Summary and credit Accumulated Depreciation
C) debit Depreciation Expense and credit Income Summary
D) debit Income Summary and credit Depreciation Expense
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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