Decreasing owners' equity and decreasing assets is the effect of this event on the company's balance sheet.
The answer provides information on Ringgold Co. At the end of the current accounting period, Ringgold Co. depreciated their equipment by $15,000, according to this statement.
In this instance, this entry's impact on the balance sheet of the business is a drop in assets and owners' equity. Depreciation can be thought of as a form of expense that lowers the asset's value.
It might be viewed as a planned expense rather than an estimated one. Both the cash flow statement and the balance sheet can be used to record depreciation.
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