Question

Information $6,000 coffee equipment - 5 year expected useful life (it depreciates 1/60 every month) Adjusting entries for the month end for a $6,000 coffee equipment. What is the entry for depreciate expense?

a. $60 depreciate expense - debit
b. $60 depreciate expense - credit
c. $100 depreciate expense - debit
e. $100 depreciate expense - credit

Answer 1

c. $100 depreciate expense - debit

Step-by-step explanation:

Depreciation Expenses Per Month = 1/60*6000

Depreciation Expenses Per Month = $100/month

Adjustment Entry

Account Title Debit Credit

Depreciation expenses $100

Accumulated Depreciation $100