Question

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demonstrate your knowledge of a depreciation adjusting entry by completing the following sentence. a depreciation adjustment would include a debit to depreciation (expense/accumulated/building) and (debit/credit) to accumulated (depreciation/expense/building).
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Explanation:

In accounting, depreciation adjusting entries recognize the periodic cost of a fixed asset. Depreciation Expense is an income statement account that is debited to increase the expense (matching the asset's use to revenue). Accumulated Depreciation is a contra-asset account that is credited to accumulate the total depreciation of the asset over time, reducing the net book value of the underlying fixed asset on the balance sheet.

Answer:

A depreciation adjustment would include a debit to depreciation expense and credit to accumulated depreciation.