Why record depreciation expense by debiting the expense and crediting accumulated depreciation? Why not just credit the
Question:
Why record depreciation expense by debiting the expense and crediting accumulated depreciation? Why not just credit the asset cost so that the balance sheet shows just the remaining undepreciated cost? (After all, the latter method is used for prepaid expenses.)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Accounting An Integrated Approach
ISBN: 9780170349680
6th Edition
Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson
Question Posted: