Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if an accumulated provision for depreciation accou

if an accumulated provision for depreciation account is in use then the entries for the...

80.2K

Verified Solution

Question

Accounting

if an accumulated provision for depreciation account is in use then the entries for the year's depreciation would be:

a. Credit provision for depreciation account, debit income statement

b. Credit asset account, debit provision for depreciation account

c. Debit asset account, credit income statement

d. Credit income statement, debit provision for depreciation account

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Maple Aircraft has issued a convertible bond at 4.75% interest due 2020. The market price of...

Finance
Q

Suppose that X is a non-empty, complete, and countable metric space. Use Baire Category Theorem only...

Advance Math
Q

Do Theist need to answer the problem of evil? Can they?

Medical Sciences
Q

Mention some ways or examples to increase Heat Transfer in an internal flow?

Mechanical Engineering
Q

What is Taichi Ohno's 7 wastes principles in process analysis? Briefly describe how these principles are...

General Management
Q

Match the type of chemical bond with its description V Polar covalent bond Nonpolar covalent...

Biology
Q

The gravitational potential difference between the surface of a planet and 10 m above is...

Physics
Q

Express in terms of sums and differences of logarithms 2 In In 3 3x y...

Algebra
Q

7 1 point Multiply 5x y 3x y 15x5 y5 8x5y5 8x6y 15x6

Algebra
Q

Which accounting principle requires that expenses be matched with revenues? a) Revenue...

Accounting
Q

Hampton Textile Co., manufactures a variety of fabrics. All materials are introduced at the beginning...

Accounting
Q

Suppose the corporate tax rate for Company A is 47%. Consider a firm that earns...

Finance