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There are two main entries for this account: Let's say we have a Truck we want to depreciate for the amount of $500, the entry is pretty straight forward.
Depreciation Expense (debit) $500
Accumulated Depreciation - Truck (credit) $500
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∙ 13y ago
Wiki User
∙ 11y agoDepriciation A/c Dr. XXX
To Machinery A/c XXX
Wiki User
∙ 9y agodebit depreciation
credit asset account
Wiki User
∙ 9y agoDebit depreciation expense
Credit fixed asset
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∙ 9y agodebit depreciation
credit asset / accumulated depreciation
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∙ 9y agodebit depreciation
credit machinery
Wiki User
∙ 9y agodebit depreciation
credit assets
Wiki User
∙ 14y agoDepreciation a/c Dr.
To Assets a/c
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What are the types of journal entry?
1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry
Summary of -doctors journal entry by vikram seth?
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Why do you need to reverse a journal entry?
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
What is as journal entry?
Journal entry is the first record in books of accounts which shows any business transaction that occurred in past and it is also called "original entry" which provides basis for all other reports and statements.
What is another name for the general journal in accounting?
the information is entered in the general journal, which is called the book of original entry.
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
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
What is the journal entry for depreciation?
debit depreciationcredit cash
How do you record depreciation in a journal entry?
[Debit] Depreciation Account [Credit] Assets Account
What is the journal entry for depriciation?
Debit depreciation expenseCredit asset 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
What is the impact of missing a depreciation journal entry o a financial statement?
Missing depreciation will increase the profit while reduce the expenses in the year in which depreciation is missing.
Journal entry for amortization of leasehold improvement?
Debit depreciation expensesCredit leasehold improvement
Is a journal entry required when switching from straight line to sum-of-the-years'-digit?
Yes journal entry to adjust the depreciation charge is required while shifting from one method to another method.
