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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

On the work sheet, Accumulated Depreciation, Equipment would be recorded in which of the following columns?

  1. a. Adjusted Trial Balance, Credit
  2. b. Income Statement, Debit
  3. c. Balance Sheet, Debit
  4. d. Income Statement, Credit

To determine

Find the correct option, the option that indicates the column in which accumulated depreciation is recorded on the worksheet.

Explanation

Worksheet: Worksheet is an accounting tool that help accountants to record adjustments and up-date balances required to prepare financial statements. Worksheet is a central place where trial balance, adjustments, adjusted trial balance, income statement, and balance sheet are presented.

Justification for correct answer: Accumulated Depreciation account is the contra account to Equipment account...

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