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What is the entry for accumulated depreciation?
Debit depreciation accountCredit accumulated depreciation
The journal entry to record depreciation expense consists of a credit to Accumulated Depreciation and a debit to the asset being depreciated?
Debit is to depreciation expense.
Do you credit provision depreciation and debit accumulated depreciation?
yes
Is depreciation a credit or debit entry?
"Depreciation Expense" is a Debit entry and the counter entry is "accumulated depreciation" on an asset which is a credit entry. Depreciation - DR. Amount X Acc. Depreciation - CR. Amount X
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
Is depreciation recorded by debiting the accumulated depreciation account and crediting the depreciation expense account?
Method 1 1 - [Debit] Depreciation Expense xxxx [Credit] Asset account xxxx Method 2 1 - [Debit] Depreciation Expense xxxx [Credit] Accumulated Depreciation xxxx 2 - [Debit] Accumulated Depreciation xxxx [Credit] Asset Account xxxx
What is entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
What is a depreciation entry?
[Debit] Depreciation xxxx [Credit] Asset xxxx
IS ACCUMULATED DEPRECIATION INCREASED BY A DEBIT?
No, accumulated depreciation is increased by a credit, not a debit. It is a contra asset account that reduces the book value of fixed assets. When depreciation expense is recorded, it is debited to the depreciation expense account and credited to accumulated depreciation.
What is journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
What is the journal entry for depreciation expense?
Debit depreciation expenseCredit fixed asset
What is the journal entry to depreciate an auto?
Journal Entry for an Auto Depreciation is as follows: [Debit] Depreciation Expense xxxx [Credit] Auto Asset xxxx Another way is as follows: 1 - [Debit] Depreciation Expense xxxx [Credit] Accum. Depreciation xxxx 2 - [Debit] Accum. Depreciation xxxx [Credit] Auto Asset xxxx
