Tags Business Accounting and Bookkeeping Accounts Payable Financial Statements

Animals & Plants Arts & Entertainment Auto Beauty & Health Books and Literature Business Electronics Engineering & Technology Food & Drink History Hobbies Jobs & Education Law & Government Math People & Society Science Social Studies Sports Travel & Places

0

Subjects>Law & Government>United States Government

Does the journal entry for depreciation involve Cash account?

Updated: 8/18/2023

Wiki User

∙ 10y ago

Best Answer

No, Depreciation is the process of allocation of fixed asset cost for it's useful revenue earning value to each fiscal year's income statement. So it does not affect cash.

Wiki User

∙ 10y ago

This answer is:

More answers

Wiki User

∙ 10y ago

No, Depreciation is the process of allocation of fixed asset cost for it's useful revenue earning value to each fiscal year's income statement. So it does not affect cash.

This answer is:

Wiki User

∙ 11y ago

no

This answer is:

Add your answer:

Earn +20 pts

Q: Does the journal entry for depreciation involve Cash account?

Write your answer...

Submit

Still have questions?

imp

Related questions

What is journal entry for depreciation?

[Debit] Depreciation account [Credit] Asset account

How do you record depreciation in a journal entry?

[Debit] Depreciation Account [Credit] Assets Account

What is the journal entry accumulated depreciation?

[Debit] Depreciation account [Credit] Accumulated depreciation

What is the journal entry for depriciation?

Debit depreciation expenseCredit asset account

What does the journal entry to close the drawing account involve?

debit owners capitalcredit drawings account

Why you made depreciation schedule?

First up all depreciation shedule is prepared as per statutory requirement. Secondly with reference to the depreciation shedule journal entry has to be passed by debiting the depreciation account and crediting the concerned fixed assets account.

What is the journal entry for depreciation expense?

Debit depreciation expenseCredit fixed asset

What is the journal entry for depreciation?

debit depreciationcredit cash

Which journal entry records payment for supplies?

The journal entry to record payment for supplies would involve crediting the cash account and debiting the supplies expense account.

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.

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

How to add depreciation to asset in quickbookS?

Journal entry is required for depreciation in quickbooks as well as FAS for peachtree also can be used to automatically record depreciation entries

Trending Questions

What is the most direct tool to find books owned by a library you are visiting? Can you convert a stafford loan to a perkins loan? Is Natasha a black name? What is the verb spell in the present tense? What are the lyrics to Cinderella a friend like you? Is there a higher rank on the presidents staff than joint chief of staff? Is there a 250000 bill in US currency? What is the ALR4th citation to the Austin v Litvak case? When does senator Amy klobuchar's term end? What number president was Grover Cleveland? What did Abraham Lincoln use to write his arithmetic? Can the us flag be flown after sunset? Are dietary supplements are tightly regulated by the FDA? How did the people in the civil war survive? What did Thomas Jefferson inherit from his father? How do you spell aftershave? What is a joint sessions in congress? The House of Representatives has how many members? Can you start savings account online? What is the routing number for Vanguard Prime Money Market Fund?

Still have questions?

imp

Previously Viewed

Does the journal entry for depreciation involve Cash account?

Resources

Top Categories

Product

Company

Copyright ©2024 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.