Which Account Is Credited in the Adjusting Entry to Allocate

question 174

Multiple Choice

Which account is credited in the adjusting entry to allocate the cost of equipment to an expense account?

• A)Equipment Expense
• B)Depreciation Expense
• C)Accumulated Equipment
• D)Accumulated Depreciation

Define and identify different types of power in RL circuits (true power, apparent power, reactive power).

Calculate voltage drops across resistors and inductors in series RL circuits.

Understand the concept of power factor and its significance in RL circuits.

Calculate the total impedance of a series RL circuit.

---

Definitions:

Credit

A financial record that raises a liability or equity account, or reduces an asset or expenditure account.

Debit

A debit is an accounting entry that results in either an increase in assets or expenses or a decrease in liabilities or equity on a company's balance sheet.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the owner's claim on the business assets.

Expenses

Costs incurred in the process of earning revenue, including operational costs like rent, utilities, and payroll.