Multiple Choice
At the end of the current accounting period,Ringgold Co.recorded depreciation of $15,000 on its equipment.The effect of this entry on the company's balance sheet is to:
A) decrease assets and increase liabilities.
B) decrease owners' equity and decrease assets.
C) decrease assets and increase owners' equity.
D) decrease owners' equity and increase liabilities.
Correct Answer:
Verified
Correct Answer:
Verified
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