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hoa [83]
3 years ago
6

Hercules Company purchased a computer for $4,800 on December 1. It is estimated that annual

Business
1 answer:
julsineya [31]3 years ago
5 0

Answer:

Debit Depreciation Expense, $960; Credit Accumulated Depreciation, $960.

Explanation:

Depreciation is an expense recorded in the income statement. An expense account is created to record annual depreciation in a given year. Since depreciation is an expense,  an increase is captured by debiting the account. The depreciation amount will be credited to the accumulated depreciation account as per the rules of double-entry accounting.

Accumulated depreciation is the natural contra entry account for the depreciation account. The account is used to recorded accumulated depreciation up to the current period. Accumulated depreciation account is because it reduces the book value of the asset.

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Answer:

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Explanation:

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2 years ago
Which of the following is a correct formula when markup is based on selling price
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2 years ago
Explain how quickly a new product will be adopted, given the values and regular experiences of potential customers?
FromTheMoon [43]

Answer:

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