0
Suppose you have a truck that was purchased at 1100 and fully depreciated and then it was sold for 250 dollars What would the journal entry be?
Wiki User
∙ 15y ago
Credit - Truck 1100
Debit - Accumulated Depreciation
Debit - Cash 250
Credit - Gain on disposition 250
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What is the journal entry when you have not fully depreciated as asset that no longer exists?
Debit accumulated depreciationdebit loss on disposalCredit fixed asset
Journal entry for ammortization of furniture?
Furniture is depreciated as it is tangible assets while intangible assets are amortized.Debit depreciationCredit Furniture
In which journal is the return of supplies purchased on account recorded?
General Journal
What is the journal entry to write off not a fully depreciated asset?
[Debit] Accumulated Depreciation [Debit] Cash (if any) [Credit] Assets
What is the journal entry to write off a partially depreciated asset that was donated?
Debit accumulated depreciationdebit loss on disposalCredit fixed 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 write off partially depreciated equipment?
debit cash / bankdebit accumulated depreciationdebit loss (if any)credit fixed asset accountcredit profit (if any)
Can assets become expenses over time?
Certain assets (like equipment or goodwill) can depreciated or amortized over time. Other assets (like land) are not amortized. An asset that is available to be depreciated can be expensed over time according to the associated depreciation schedule for that particular asset class. Often, a journal entry is made at the end of each year. The journal entry would reflect a credit to an asset account and a debit to an expense account.
What is the journal entry goods purchased?
[Debit] Goods Purchased xxxx [Credit] Cash / bank / accounts payable xxxx
What are the accounting journal entries for treasury bills purchased on discount?
There are several journal entries that could be made for items purchased on discount. The journals for keeping tabs generally have categories for debit, credit, discount, and total.
How do you make a journal entry for a goat purchased with cash?
debit goatCredit cash
How do you solve journal entries?
purchased additional tools on credit yk. 350
