A New Accountant Working for Unitas Company Records $800 Depreciation $\begin{array} { l } \text { Depreciation Expense }&800 \\ \text { Cash}& &800\\\end{array}$

Multiple Choice

A new accountant working for Unitas Company records $800 Depreciation Expense on store equipment as follows: $\begin{array} { l } \text { Depreciation Expense }&800 \\ \text { Cash}& &800\\\end{array}$
The effect of this entry is to

A) adjust the accounts to their proper amounts on December 31.
B) understate total assets on the statement of financial position as of December 31.
C) overstate the book value of the depreciable assets at December 31.
D) understate the book value of the depreciable assets as of December 31.