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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 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
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.
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 journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
What is the journal entry for record one month depreciation on the computer equipment. Useful life is 3 years?
To record one month of depreciation on computer equipment with a useful life of 3 years, first calculate the monthly depreciation expense. If the cost of the equipment is, for example, $3,600, the annual depreciation would be $1,200, resulting in a monthly depreciation of $100. The journal entry would be: Debit: Depreciation Expense $100 Credit: Accumulated Depreciation - Computer Equipment $100
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
What is the journal entry for depriciation?
Debit depreciation expenseCredit asset account
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
What is the journal entry for recognizing one month of depreciation?
To recognize one month of depreciation, you would make the following journal entry: Debit Depreciation Expense (for the amount of depreciation) and credit Accumulated Depreciation (for the same amount). This entry reflects the expense incurred for using the asset during that month, reducing net income, while also increasing the accumulated depreciation on the balance sheet, which reduces the asset's book value.
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
What is the purpose of journal entry?
A journal records what you're findings are
