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What is the entry for accumulated depreciation?
Debit depreciation accountCredit accumulated depreciation
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
How do you record annual depreciation and accumulated depreciation?
[Debit] Depreciation expense[Credit] Accumulated depreciationAfter that depreciation is shown as part of income statement while accumulated depreciation goes to balance sheet.
Accumulated depreciation debit or credit?
Accumulated depreciation is a contra account for specific fixed asset so fixed assets has debit balance as normal balance so accumulated depreciation has credit balance as default balance.
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 entry for accumulated depreciation?
Debit depreciation accountCredit accumulated depreciation
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
Does accumulated depreciation increase with a credit?
accumulated depreciation is an asset, so it will increase with a debit.
Do you credit provision depreciation and debit accumulated depreciation?
yes
Is depreciation recorded by debiting the accumulated depreciation account and crediting the depreciation expense account?
Method 1 1 - [Debit] Depreciation Expense xxxx [Credit] Asset account xxxx Method 2 1 - [Debit] Depreciation Expense xxxx [Credit] Accumulated Depreciation xxxx 2 - [Debit] Accumulated Depreciation xxxx [Credit] Asset Account xxxx
How do you record annual depreciation and accumulated depreciation?
[Debit] Depreciation expense[Credit] Accumulated depreciationAfter that depreciation is shown as part of income statement while accumulated depreciation goes to balance sheet.
Accumulated depreciation debit or credit?
Accumulated depreciation is a contra account for specific fixed asset so fixed assets has debit balance as normal balance so accumulated depreciation has credit balance as default balance.
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.
Is Accumulated depreciation debit or credit?
Accumulated depreciation is a contra to related asset so if asset has a debit balance then it has credit balance to reduce the related asset's value.
What event makes the accumulated depreciation account go up Are these debits or credits to accumulated depreciation?
Depreciating assets over time causes the Accumulated Depreciation to go up with a credit entry. The debit is to depreciation expense.
Is depreciation a credit or debit entry?
"Depreciation Expense" is a Debit entry and the counter entry is "accumulated depreciation" on an asset which is a credit entry. Depreciation - DR. Amount X Acc. Depreciation - CR. Amount X
Accounting entry for capitalization of inventory as fixed assets?
Debit Depreciation Expense Credit Accumulated Depreciation
