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SummerEyes
Jan 21, 2009, 03:43 PM
In working on a 10 Column worksheet with adjustments, I seem to be having difficulty figuring out where exactly the adjustments go, and how to find the depreciation expenses and accumulated depreciation. I also cannot seem to separate the two.
Any help whatsoever would be amazing.
pready
Jan 22, 2009, 02:09 PM
The journal entry for Depreciation is recorded as:

Debit Depreciation Expense for the amount
Credit Accumulated Depreciation - (Name of asset account) for the amount.

Depreciation is an adjusting entry.

On a 10-Column worksheet the first 2 columns are for your trial Balance, columns 3 and 4 are for your adjusting entries, columns 5 and 6 is for your adjusted trial balance, columns 7 and 8 are for your Income Statement accounts, and columns 9 and 10 are for your Balance Sheet accounts.