A New Accountant Working for Unitas Company Records $800 Depreciation

question 86

Multiple Choice

A new accountant working for Unitas Company records $800 Depreciation Expense on store equipment as follows: The effect of this entry is to

• A)adjust the accounts to their proper amounts on December 31.
• B)understate total assets on the statement of financial position as of December 31.
• C)overstate the book value of the depreciable assets at December 31.
• D)understate the book value of the depreciable assets as of December 31.

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