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[Debit] Depreciation account [Credit] Accumulated depreciation
"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
[Debit] Depreciation expense[credit] fixed asset.
[Debit] Depreciation account [Credit] Asset account
An increase in depreciation expence is a credit to the accounts as it reduces asset value that was once debited
[Debit] Depreciation account [Credit] Accumulated depreciation
"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
yes
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
[Debit] Depreciation xxxx [Credit] Asset xxxx
[Debit] Depreciation expense[credit] fixed asset.
the normal balance of accumulated depreciation is "credit"
[Debit] Depreciation account [Credit] Asset account
An increase in depreciation expence is a credit to the accounts as it reduces asset value that was once debited
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
accumulated depreciation is an asset, so it will increase with a debit.
[Debit] Depreciation Account [Credit] Assets Account