The Correct Entry to Record the Annual Amortization Expense for a Capital

question 47

Short Answer

The correct entry to record the annual amortization expense for a capital asset is: a.
$\begin{array} { l } \text {Dr. Accumulated amortization }\\ \quad\quad\text {Cr. Amortization expense }\\ \text {b. Dr Amortization expense }\\ \quad\quad\text {Cr. Accumulated amortization }\\ \text {c. Dr. Accumulated amortization }\\ \quad\quad\text {Cr. Capital asset }\\ \text { d. Dr. Amortization expense}\\ \quad\quad\text {Cr. Capital asset }\\\end{array}$

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Definitions:

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Mortality Table

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Taxes levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivorship benefits.