accounting question?

accounting question?
35 The adjusting entry to record the depreciation of equipment for the fiscal period is A. debit Depreciation Expense; credit Equipment B. debit Depreciation Expense; credit Accumulated Depreciation C. debit Accumulated Depreciation; credit Depreciation Expense D. debit Equipment; credit Depreciation Expense lady bird, this is not school work iam going through these questions in an accounting book of mine and i thought i would post the questions so other people could give me advice as to what they think, its helping me understand it when someone posts the same answer i get!


Answers:

VeronicaB:  based on my logic it's A
2006-11-08 01:04:07
ladybird:  It's actually B. You don't credit the Equipment asset account directly.
2006-11-08 01:12:47
hmongthaoboi:  it depends how u want it work but the good way to do is i would choose B you figure out how much it will deprecition per year, and record per rate of time in your journal or transction, then at the end of the period you will credit the left over of whats not depreciated the bad way to do is D you pay off the whle equipment, then you figure out how much it will values is, this way you you report your earrning lower start the start of the period.
2006-11-08 01:22:18