Office equipment has a balance of $9,000. the equipment has a useful life of 3 years and a salvage value of $3,000. at the end of the year, how is the adjusting entry for depreciation recorded on a multi-column trial balance worksheet?

                                                       Debit                        Credit

Depreciation                                  $2,000

Accumulated depreciation                                             $2,000

Explanation:

The formula for calculating the depreciation of the office equipment is given below:

Depreciation=(cost of equipment-salvage value)/useful life

In this question,

cost of equipment=$9,000

Salvage value=$3,000

useful life=3 years

Depreciation=(9000-3000)/3=$2,000

The adjusting entry which shall be recorded in respect of the above calculated depreciation is given below:

                                                       Debit                        Credit

Depreciation                                  $2,000

Accumulated depreciation                                             $2,000

answer; /// the above statement is (false);