What Would Be the Appropriate Journal Entry to Adjust to the Accrual

question 140

Multiple Choice

What would be the appropriate journal entry to adjust to the accrual basis of accounting for depreciation in prior years?

• A) Debit Depreciation expense, Credit Accumulated Depreciation.
• B) Debit Net Assets, Credit Accumulated Depreciation.
• C) Debit Accumulated Depreciation, Credit Net Assets.
• D) Debit Machinery, Credit Accumulated Depreciation.

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Definitions:

Captive Breeding

The process of breeding animals in controlled environments within zoos, aquariums, or breeding centers to preserve species.

Host Mothering

The introduction of an embryo from one species into the uterus of another species, where it implants and develops; the host mother subsequently gives birth and may raise the offspring as her own.

Sperm Banking

Sperm banking is the process of collecting, freezing, and storing sperm for future use in artificial insemination or other fertility treatments.

Global Warming

An increase in Earth's average surface temperature due to rising levels of greenhouse gases, leading to changes in climate and weather patterns.