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In Principles of Accounting I, we learned the journal entry for depreciation is: Debit – Depreciation Expense $X,XXX                   Credit – Accumulated Depreciation - (asset) $X,XXX   1) How is depreciation recorded differently under job order costing and how would you explain the difference to a non-accountant? 2) Suppose you had to record depreciation of $700 on factory equipment and $225 on office equipment. What

In Principles of Accounting I, we learned the journal entry for depreciation is: Debit – Depreciation Expense $X,XXX                   Credit – Accumulated Depreciation - (asset) $X,XXX   1) How is depreciation recorded differently under job order costing and how would you explain the difference to a non-accountant? 2) Suppose you had to record depreciation of $700 on factory equipment and $225 on office equipment. What

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter27: Adjustments, Financial Statements, And Year-end Accounting For A Manufacturing business
Section: Chapter Questions
Problem 2MC: The adjustment for depreciation expense for the year on the factory building includes a (a) debit to...
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In Principles of Accounting I, we learned the journal entry for depreciation is:

Debit – Depreciation Expense $X,XXX

                  Credit – Accumulated Depreciation - (asset) $X,XXX

 

1) How is depreciation recorded differently under job order costing and how would you explain the difference to a non-accountant?

2) Suppose you had to record depreciation of $700 on factory equipment and $225 on office equipment. What would the journal entry look like? 

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