For long-lived assets that have been in use for more than one accounting period, depreciation expense on the ______ accumulated

Question

Natasha_Volkova [10]

2 years ago

10

For long-lived assets that have been in use for more than one accounting period, depreciation expense on the ______ accumulated

depreciation on the ______.

SAT

1 answer:

krek1111 [17] · Answer 1 · 2023-02-06T06:25:12+03:00

Answer:

For long-lived assets that have been in use for more than one accounting period, Depreciation Expense on the debit. Accumulated Depreciation on the credit.

Explanation:

Therefore, the entry that was made by the accountant, assets and stockholders' equity will be decreased.