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DR. DEPRECIATION EXPENSE X
CR. ASSET X
At the end of the year Depreciation is charged to the Income Statement.
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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 entry for accumulated depreciation?
Debit depreciation accountCredit accumulated depreciation
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
What is entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
What is journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
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 entry for accumulated depreciation?
Debit depreciation accountCredit accumulated depreciation
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
What is a depreciation entry?
[Debit] Depreciation xxxx [Credit] Asset xxxx
What is entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
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
Is the fixed asset register a part of the double entry system?
A double entry bookkeeping system shows the multiple effects of a single transaction. Since the fixed asset register entails all details about purchase, sale, and depreciation effects of a fixed asset. It is therefore a part of double entry system.
How do you record depreciation in a journal entry?
[Debit] Depreciation Account [Credit] Assets Account
The adjusting entry to record depreciation of equipment is?
DR. Depreciation Expense XX Cr. Accumulated Depreciation - Equipment XX
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 for depreciation?
debit depreciationcredit cash
