Question $1(1$ point$)$

Which of the financial statements is prepared first from the worksheet?

A$)$ Income statement

B$)$ Balance sheet

C$)$ Statement of owner's equity

D$)$ None of these answers are correct.

Question $2(1$ point$)$

The adjusting entry to record depreciation for the company automobile would be

A$)$ debit Depreciation Expense, Automobile; credit Automobile.

B$)$ debit Accumulated Depreciation, Automobile; credit Depreciation Expense,

Automobile.