The adjustment for general capital asset depreciation would be: Debit to Depreci

ID: 2596023 • Letter: T

Question

The adjustment for general capital asset depreciation would be:

Debit to Depreciation Expense and credit to Change in Net Assets

Debit to Deprecation Expense and credit to Accumulated Deprecation (incorrect)

Debit to Deprecation Expense and credit to General Capital Assets

There would be no entry since it is a general fund account

Debit to Depreciation Expense and credit to Change in Net Assets

Debit to Deprecation Expense and credit to Accumulated Deprecation (incorrect)

Debit to Deprecation Expense and credit to General Capital Assets

There would be no entry since it is a general fund account

Solution:-

Depreciation Expenses A/c Dr

To General Capital Assets A/c

Reason- Depreciation will be recorded as an expesnes and the same reduction will be recorded in General Capital Assest A/c

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