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What else can I help you with?
Do you debit or credit proceeds of sales of fixed asset in trial balance?
credit credit credit
How do you remove a completely depreciated fixed asset from your fixed asset accounts?
Debit Accumulated Depreciation and Credit the Fixed Asset account for the capitalized value; however, if you still own the asset, you should not remove it.
What is the journal entry for lost of fixed assets?
debit loss of assetcredit fixed asset account
How you can show if fixed asset received as gift?
[Debit] Fixed Assets [Credit] Owners equity
What is entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
Give a example of Increase an asset and increase a liability.?
When we purchase fixed asset on credit then it increases our Assets and also increase liability. Transaction as follows: Asset [Debit] Payable [Credit]
What records a decrease in a asset?
Credit balance records a decrease in fixed assets like depreciation or loss of asset or sale of asset etc.
What is the journal entry for receiving a donated asset?
write up the entries required in revaluation account?
What Types of fixed asset?
1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset
What is the journal entry for lost fixed assets?
Debit Accumulated Depreciation Credit Fixed Asset If there the asset has a net book value, then you will have to Debit or Credit Gain or Loss on Sale of Asset for the difference. Also, you may have received money if the asset was sold or there may be a loan to payoff. Those transactions will need to be included in your entry as well.
Is a desk a fixed asset or a current asset?
A fixed asset.
How do you book a fixed asset that is a lease?
[Debit] Asset Under finance lease xxxx [Credit] Liability Under finance lease xxxx
