Question

To find the amount that was used in the journal entry for a company's annual depreciation expense, what financial statement and accounts should one use?

Question 5 options:

	I/S - Depreciation Expense
	B/S - Depreciation Expense
	I/S - Accumulated Depreciation
	B/S - Accumulated Depreciation

Answer 1

Here answer is

I/S - Depreciation Expense

B/S - Accumulated Depreciation

To find the amount that was used in the journal entry for a company's annual depreciation expense, Following  financial statement and accounts should one use

Statement - Income Statement and Account- Depreciation Expense

Statement - Balance Sheet and Account- Accumulated Depreciation

both Depreciation and Accumulated depreciation account shows the current year depreciation

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