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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 entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
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
What is journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset 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
What is entry for depreciation?
[Debit] Depreciation expense[credit] fixed asset.
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
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
What is journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
What is the journal entry for depreciation?
debit depreciationcredit cash
How do you record depreciation in a journal entry?
[Debit] Depreciation Account [Credit] Assets Account
The adjusting entry to record depreciation of equipment is?
DR. Depreciation Expense XX Cr. Accumulated Depreciation - Equipment XX
WHAT IS THE JOURNAL ENTRY FOR SALES DISCOUNTS?
expense
Accounting entry for capitalization of inventory as fixed assets?
Debit Depreciation Expense Credit Accumulated Depreciation
What would the journal entry be if a company incurred an expense?
There may be more than one way to record an expense. The easiest journal to think about is when you've used cash to pay for the expense. In that case, you would debit an expense account and credit cash. But, if you've received the benefit of an expense but have not yet paid for it the debit would still be the expense account but the credit would be a liability account. Of course, there are times when cash flows but no expense is recognized such as investments in property, plant and equipment. After that expenditure is made you would recognize periodic expenses in the form of depreciation. That would be a debit to depreciation expense and a credit to accumulated depreciation.
