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Watauga Company's balance in the accumulated depreciation account equipment at the end of the year is $100,000. Which of the following is correct? Select
Watauga Company's balance in the accumulated depreciation account equipment at the end of the year is $100,000. Which of the following is correct? Select one: O a. The $100,000 will offset (be subtracted from) the related equipment account in the company's end of the year balance sheet. O b. The $100,000 will offset (be subtracted from) the related equipment account in the company's end of the year income statement. O c. The $100,000 will be added to (increase) the related equipment account in the company's end of the year balance sheet. O d. The accumulated depreciation account has a normal balance of a debit. Which account will have a zero balance after a company has journalized (prepared closing journal entries) and posted the closing entries? Select one: O a. Accumulated Depreciation. O b. Accounts Payable. O c. Prepaid Insurance. Od. Depreciation Expense.
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