Depreciation a/c Dr.
To Asset a/c
By depriciation a/c to asset a/c
Debit depreciation expenseCredit asset account
depriciation: wear or tear of an asset or estimated life used of an asset
The amount received for sale of the vehicle with depreciation is compared to the vehicle's net value and debited as a loss or credited as a gain.
The correct entry in the date column is for all the transactions is?
What is the rate of depriciation on refigerator
What is the rate of depriciation on refigerator
Reduced the velue of fixed asset
Rate of depriciation
The correct format for a Global Entry number is 9 digits, starting with the letters "98" followed by 7 numbers.
You would reverse the journal entry then record the correct entry.
A correcting entry is an entry that corrects a previous entry. ex. You buy supplies worth $500 You debit Equipment and you credit Cash then you CORRECT it by: debiting Supplies and crediting Equipment Basically, since you made a mistake in the first entry, you correct it. In some cases, you redo the entry by debiting cash, crediting equipment; then starting over, debit supplies, credit cash.