(1) What type of account is accumulated depreciation and why does it get used in the depreciation of fixed assets instead of doing it Claudia's way? (2) Does accumulated depreciation have a debit balance or a credit balance
Claudia is learning about
(1) What type of account is accumulated depreciation and why does it get used in the depreciation of fixed assets instead of doing it Claudia's way?
(2) Does accumulated depreciation have a debit balance or a credit balance?
Part II
Benny, an inexperienced accountant at Ace Plus, is about to post the monthly depreciation entries for the company's fixed assets. The depreciation amounts have already been calculated on a spreadsheet by the owner, who is not very knowledgeable in accounting. Benny's instructions are to post the following depreciation amounts for the month:
Building - $1,100
Land - 500
Equipment - 800
What will Benny's
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