Question

journal entry worksheet
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depreciation on the companys equipment for the year is computed to be $11,000.
note: enter debits before credits.
transaction general journal debit credit
a.

Explanation:

Step1: Identify accounts affected

Depreciation expense increases and accumulated - depreciation (a contra - asset account) increases.

Step2: Determine debit and credit

Depreciation expense is debited as it is an expense (increases expenses, decreases net income). Accumulated - depreciation is credited as it is a liability - like account for the asset.

Answer:

Transaction	General Journal	Debit	Credit
	Accumulated - Depreciation - Equipment		$11,000