Daniel's end-of-period spreadsheet at the end of July has $4,950 in the Balance Sheet Credit column for Accumulated Depreciation. The end-of-period spreadsheet at the end of August has $7,600 in the Balance Sheet Credit column for Accumulated Depreciation. What is the amount of the depreciation expense adjustment for the month of August?

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Dingers226 Dingers226

09-03-2020
Business

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Daniel's end-of-period spreadsheet at the end of July has $4,950 in the Balance Sheet Credit column for Accumulated Depreciation. The end-of-period spreadsheet at the end of August has $7,600 in the Balance Sheet Credit column for Accumulated Depreciation. What is the amount of the depreciation expense adjustment for the month of August?

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heavenandholiness heavenandholiness · Answer 1 · 2020-03-13T05:52:22+01:00

Answer:

$2,650

Explanation:

Daniel's end-of-period spreadsheet at the end of July has $4,950 in the Balance Sheet Credit column for Accumulated Depreciation.

The end-of-period spreadsheet at the end of August has $7,600 in the Balance Sheet Credit column for Accumulated Depreciation.

Therefore the amount of the depreciation expense adjustment for the month of August is $7,600 - $4,950 = $2,650

The depreciation expense for the month would have been debited as depreciation account but credited to the accumulated depreciation account, which would have increased its balance.