Comment on the appropriateness of the accounting procedures followed by Anderson, Inc. (a) Depreciation expense on the building for the year was…

Comment on the appropriateness of the accounting procedures followed by Anderson, Inc. (a) Depreciation expense on the building for the year was….

Comment on the appropriateness of the accounting procedures followed by Anderson, Inc. (a) Depreciation expense on the building for the year was $60,000. Because the building was increasing in value during the year, the controller decided to charge the depreciation expense to retained earnings instead of to net income. The following entry is recorded. Retained Earnings

Comment on the appropriateness of the accounting procedures followed by Anderson, Inc. (a) Depreciation expense on the building for the year was…