Question

Daniel's end-of-period spreadsheet at the end of July has $4,950 in the Balance Sheet Credit column for Accumulated Depreciation. The end-of-period spreadsheet at the end of August has $7,600 in the Balance Sheet Credit column for Accumulated Depreciation. What is the amount of the depreciation expense adjustment for the month of August?

Answer 1

$2,650

Step-by-step explanation:

Daniel's end-of-period spreadsheet at the end of July has $4,950 in the Balance Sheet Credit column for Accumulated Depreciation.

The end-of-period spreadsheet at the end of August has $7,600 in the Balance Sheet Credit column for Accumulated Depreciation.

Therefore the amount of the depreciation expense adjustment for the month of August is $7,600 - $4,950 = $2,650

The depreciation expense for the month would have been debited as depreciation account but credited to the accumulated depreciation account, which would have increased its balance.