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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.
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What is journal entry if fixed assets lost by theft?
debit loss of assetcredit fixed asset
What is the journal entry to write off an asset was damage or lost?
debit loss of assetscredit fixed asset account
What is the journal entry for goods lost in fire?
debit loss by firecredit purchases
What will be the journal entry for good lost by fire How?
debit loss by firecredit goods inventory
What is the journal entry of Goods lost by fire Rs 4000?
debit goods lost by fire 4000credit goods inventory 4000
What is journal entry if fixed assets lost by theft?
debit loss of assetcredit fixed asset
What is the journal entry for lost of fixed assets?
debit loss of assetcredit fixed asset account
What is the journal entry to write off an asset was damage or lost?
debit loss of assetscredit fixed asset account
What is the journal entry for goods lost in fire?
debit loss by firecredit purchases
What will be the journal entry for good lost by fire How?
debit loss by firecredit goods inventory
What is the journal entry of Goods lost by fire Rs 4000?
debit goods lost by fire 4000credit goods inventory 4000
What is the journal entry for goods lost by fire?
Abnormal loss of goods a/c dr. To purchases a/c
What is the journal entry for destroyed goods if it is not mentioned that loss is by fire or theft?
[Debit] Goods lost [Credit] Inventory account
What is journal entry for Cash embezzled by an employee 1000?
Lost by theft drEmbazzeled cash drTo cash account
Why the trial balance may not balance?
Answer:The purpose of the trial balance is (historically) to verify if any errors were made with posting the journal entries to the ledger. Every journal entry makes debits and credits to (at least) two T-accounts, where the total of the debit and credit amounts need to be equal. The journal entry is posted to the journal, and the T-accounts affected are updated in the ledger. The trial balance is a list of all T-accounts and their balances. As the underlying journal entries need to balance out (total debits equal total credits), the balances of the trial balance also need to balance. If this is not the case, it means that an error has been made. It means that some journal entry has been entered into the ledger which did not balance.With computerized bookkeeping, this purpose (checking for errors) has been lost (at least for the user, the software may still use the trial balance to check for consistency).
What are the release dates for NET Journal - 1966 Search for the Lost Self?
NET Journal - 1966 Search for the Lost Self was released on: USA: 17 October 1966
Can freight bills that are used to ship equipment be allocated to fixed assets?
No. A freight bill only shows that the equipment was shipped. A signed delivery receipt would be needed. The equipment could have been lost or damaged and therefore not, or no longer, an asset.
