Answer: A. Depreciation Expense and credits a contra-asset account.
Explanation:
Depreciation is an expense which means that when it is incurred, it will be debited because expenses are debited to show that they have increased.
Depreciation reduces the value of an asset so the asset needs to be credited which is what is done when an asset reduces. The full entry would therefore involved a debit to the Depreciation account and a credit to the asset account that is being depreciated.
Hey there!!
The correct answer is Option A. an Increase in supply
Hope this helped and I wish you the best in luck! (:
A = $9.99, the amount needed after 1 year
r = 0.018% = 0.00018, interest rate
n = 12, compoundings per year
t = 1, one year duration
Let P = required balance at the beginning of the year.
Then
P(1 + 0.00018/12)¹² = 9.99
1.00018P = 9.99
P = $9.988 ≈ $9.99
Answer: $9.99
Based on the information given for Server Company, the machine will be valued a<u>t $42,000 </u>and the machinery account will be credited.
<h3>What would be the value of the machine?</h3>
The machine was sold on January 1, 20X9 and at that point, the accumulated depreciation was $28,000.
The value of the machine was therefore:
= Cost of machine - Accumulated depreciation
= 70,000 - 28,000
= $42,000
Find out more on accumulated depreciation at brainly.com/question/1287985.
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