A Company Made the Following Entry in Their Books: Dr

question 30

Multiple Choice

A company made the following entry in their books: Dr.Depreciation expense $15,000, Cr.Accumulated depreciation $15,000.What is the event that most likely occurred?

• A)The company bought a capital asset.
• B)The company sold a capital asset.
• C)The company recorded that a portion of the capital asset that had been used during the period.
• D)The company adjusted the capital asset to reflect the change in market value.