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Q.12RQ

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Horngren'S Financial And Managerial Accounting
Found in: Page 157

Short Answer

Question :In the recording of depreciation expense, which account is credited?

Answer

The accumulated depreciation account is credited.

See the step by step solution

Step by Step Solution

Step 1: Explanation of Depreciation Expense

It is the process of allocating the cost of fixed assets over the asset's useful life. It is reported in the income statement as an expense

Step 2: Journal Entry for Depreciation Expense

Depreciation expense is recorded by debiting depreciation expense and crediting accumulated depreciation expense.

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