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

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.

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

Depreciation simple defined as the allocation of the cost of a long-lived, tangible asset over its useful life making an expense on the income statement that is matched against the revenue gotten by the use the asset.

The effect of recording depreciation expense on the accounting equation is that Total assets decrease and Total stockholders' equity decreases

Learn more from

https://brainly.com/question/25573467

For long-lived assets that have been in use for more than one accounting period, Depreciation Expense on the ______ Accumulated Depreciation on the ______. Multiple choice question.

Respuesta :

Otras preguntas

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