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What would happen to the other side of the journal entry with a decrease in an asset?
Wiki User
∙ 9y ago
there should be increase in any other asset or decrease in liability or decrease in owners equity to balance.
Wiki User
∙ 9y ago
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What is the journal entry for donating fixed asset?
debit donationcredit fixed asset
Journal entry to write off an asset?
debit accumulated depreciationcredit asset
What is the journal entry for depriciation?
Debit depreciation expenseCredit asset account
What is the Journal entry to purchase of an asset?
debit assetscredit cash / bank
What is the journal entry for asset received as gift?
debit asset credit bank
What are the journal entry for asset revaluation?
debit asset and credit asset revaluation
What is the journal entry if asset appreciates?
Debit Asset accountCredit retained earnings
What is the journal entry for donating fixed asset?
debit donationcredit fixed asset
What is the Journal entry move land out of current assets?
Land is not a current asset and if recorded as current asset then no entry required to re-classify as fixed asset.
Journal entry to write off an asset?
debit accumulated depreciationcredit asset
What is the journal entry for depriciation?
Debit depreciation expenseCredit asset account
What is the Journal entry to purchase of an asset?
debit assetscredit cash / bank
What is the journal entry for asset received as gift?
debit asset credit bank
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 purchase of an asset?
[Debit] Asset Account xxxx [Credit] Cash / bank account xxxx
Journal entry of credit purchase of asset?
Debit assetsCredit accounts payable
What is journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
