{"id":8865,"date":"2024-04-15T03:07:26","date_gmt":"2024-04-15T03:07:26","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=8865"},"modified":"2024-04-15T03:07:26","modified_gmt":"2024-04-15T03:07:26","slug":"which-of-the-following-is-a-double-entry-for-deprecation-expenses-a-accumulated-depreciation-debit-and-depreciation-expenses-credit-b-depreciation-expenses-debit-and-accumulated-depreciation-credit","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-is-a-double-entry-for-deprecation-expenses-a-accumulated-depreciation-debit-and-depreciation-expenses-credit-b-depreciation-expenses-debit-and-accumulated-depreciation-credit\/","title":{"rendered":"Which of the following is a double entry for deprecation expenses? A. Accumulated depreciation Debit and depreciation expenses Credit B. Depreciation expenses Debit and accumulated depreciation Credit C. Cash Debit and Depreciation expenses Credit D. Depreciation expenses Debit and Cash Credit"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Accumulated depreciation Debit and depreciation expenses Credit&#8221; option2=&#8221;Depreciation expenses Debit and accumulated depreciation Credit&#8221; option3=&#8221;Cash Debit and Depreciation expenses Credit&#8221; option4=&#8221;Depreciation expenses Debit and Cash Credit&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>A. Accumulated depreciation Debit and depreciation expenses Credit<\/strong><\/p>\n<p>Depreciation is the allocation of the cost of an asset over its useful life. It is a non-cash expense, which means that it does not affect cash flow. The double entry for depreciation is as follows:<\/p>\n<ul>\n<li>Debit: Accumulated depreciation<\/li>\n<li>Credit: Depreciation expense<\/li>\n<\/ul>\n<p>Accumulated depreciation is a contra-asset account, which means that it is a deduction from the asset account. Depreciation expense is a non-cash expense, which means that it does not affect cash flow.<\/p>\n<p>The other options are incorrect because they do not reflect the double entry for depreciation. Option B would increase the asset account, which is not correct. Option C would increase the cash account, which is also not correct. Option D would decrease the asset account and increase the cash account, which is not a valid double entry.<\/p>\n<p>I hope this explanation is helpful. Please let me know if you have any other questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Accumulated depreciation Debit and depreciation expenses Credit&#8221; option2=&#8221;Depreciation expenses Debit and accumulated depreciation Credit&#8221; option3=&#8221;Cash Debit and Depreciation expenses Credit&#8221; option4=&#8221;Depreciation expenses Debit and Cash Credit&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-8865","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following is a double entry for deprecation expenses? 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A. Accumulated depreciation Debit and depreciation expenses Credit B. Depreciation expenses Debit and accumulated depreciation Credit C. Cash Debit and Depreciation expenses Credit D. Depreciation expenses Debit and Cash Credit","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-is-a-double-entry-for-deprecation-expenses-a-accumulated-depreciation-debit-and-depreciation-expenses-credit-b-depreciation-expenses-debit-and-accumulated-depreciation-credit\/","og_locale":"en_US","og_type":"article","og_title":"Which of the following is a double entry for deprecation expenses? A. Accumulated depreciation Debit and depreciation expenses Credit B. Depreciation expenses Debit and accumulated depreciation Credit C. Cash Debit and Depreciation expenses Credit D. 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