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Is depreciation a credit or debit entry?

Anonymous

∙ 14y ago

Updated: 4/28/2022

"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

Wiki User

∙ 14y ago

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What is entry for depreciation?

[Debit] Depreciation expense[credit] fixed asset.

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

How do you record depreciation in a journal entry?

[Debit] Depreciation Account [Credit] Assets Account

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.

Related Questions

What is entry for depreciation?

[Debit] Depreciation expense[credit] fixed asset.

What is a depreciation entry?

[Debit] Depreciation xxxx [Credit] Asset xxxx

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

How do you record depreciation in a journal entry?

[Debit] Depreciation Account [Credit] Assets Account

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 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

Accounting entry for capitalization of inventory as fixed assets?

Debit Depreciation Expense Credit Accumulated Depreciation

A machine is currently recorded in the books of a business with a cost of 10000 and accumulated depreciation of 3000 the machine is sold for 8000 account for disposal?

Accounting Entry: [Debit]Cash 8000 [Debit]Accumulated Depreciation 3000 [Credit] Machine 10000 [Credit]Profit on Sale 1000

What is the journal entry for car trade in?

[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car

What is the journal entry to record fixed asset disposals?

[Debit] Accululated Depreciation xxxx [Debit] Loss on disposal of asset xxxx [Credit] Asset account xxxx Entry 2 [debit] Profit and loss account xxxx [Credit] Loss on disposal of asset xxxx

What is the journal entry to write off not a fully depreciated asset?

[Debit] Accumulated Depreciation [Debit] Cash (if any) [Credit] Assets

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