Final answer:
The adjusting entry to compute depreciation on delivery equipment for the month of June for Queenan Company is recorded by debiting the Depreciation Expense account and crediting the Accumulated Depreciation - Delivery Equipment account.
Step-by-step explanation:
The adjusting entry to compute depreciation on delivery equipment for the month of June for Queenan Company is recorded by debiting the Depreciation Expense account and crediting the Accumulated Depreciation - Delivery Equipment account.
Depreciation expense is the cost allocated to the delivery equipment over its useful life, and Accumulated Depreciation represents the cumulative depreciation recorded on the equipment.
This adjusting entry helps in matching the cost of the equipment with the revenue it generates during the month of June.