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Depreciation is expense and like all other expense it also has debit balance as default balance and all revenues has credit balance as default balance.
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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 journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
What is entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
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 journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
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
What is a depreciation entry?
[Debit] Depreciation xxxx [Credit] Asset xxxx
What is entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
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
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 journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
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
Is Accumulated depreciation debit or credit?
Accumulated depreciation is a contra to related asset so if asset has a debit balance then it has credit balance to reduce the related asset's value.
How do you record depreciation in a journal entry?
[Debit] Depreciation Account [Credit] Assets Account
Does accumulated depreciation increase with a credit?
accumulated depreciation is an asset, so it will increase with a debit.
