At the End of the Current Accounting Period, Rodgers Co

Multiple Choice

At the end of the current accounting period, Rodgers Co. recorded depreciation of $25,000 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 increase liabilities.
C) decrease assets and increase owners' equity.
D) decrease owners' equity and decrease assets.