In the unadjusted trial balance of its worksheet for the year ended December 31, 2012, Taitum Company reported Equipment of $120,000. The year-end adjusting entries require an adjustment of $15,000 for depreciation expense for the equipment. After adjustment, which of the following adjusted amount should be reported?

a. A debit of $105,000 for Equipment in the balance sheet column.

b. A credit of $15,000 for Depreciation Expense - Equipment in the income statement column.

c. A debit of $120,000 for Equipment in the balance sheet column.

d. A debit of $15,000 for Accumulated Depreciation - Equipment in the balance sheet column.

Answer rating: 100% (QA)

According to the question the unearned revenue was 50000 However 15000 from unearned revenue was ea... View the full answer