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No, Depreciation is the process of allocation of fixed asset cost for it's useful revenue earning value to each fiscal year's income statement. So it does not affect cash.

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11y ago

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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


What is the journal entry accumulated depreciation?

[Debit] Depreciation account [Credit] Accumulated depreciation


What is the journal entry for depriciation?

Debit depreciation expenseCredit asset account


What does the journal entry to close the drawing account involve?

debit owners capitalcredit drawings account


Why you made depreciation schedule?

First up all depreciation shedule is prepared as per statutory requirement. Secondly with reference to the depreciation shedule journal entry has to be passed by debiting the depreciation account and crediting the concerned fixed assets account.


What is the journal entry for depreciation expense?

Debit depreciation expenseCredit fixed asset


What is the journal entry for depreciation?

debit depreciationcredit cash


Which journal entry records payment for supplies?

Debit supplies inventoryCredit cash / bank


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 the impact of missing a depreciation journal entry o a financial statement?

Missing depreciation will increase the profit while reduce the expenses in the year in which depreciation is missing.