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View Full Version : Need help with this adjusting entry:


tchtec
Dec 7, 2011, 07:28 AM
Annual depreciation is $3,600 on the building and $3,000 on equipment. How should this be posted in the gen jrl and t acct. HELP? Cannot find a good example in the text that applies, Is this a single entry?

pready
Dec 7, 2011, 09:23 AM
You can do a compound entry:
Debit Depreciation Expense for the total amount
Credit Accumulated Depreciation - Building for 3,600
Credit Accumulated Depreciation - Equipment for 3,000

tchtec
Dec 7, 2011, 01:29 PM
Thank you, I actually did Debit depreciation for 550, Credit Acc Dep Bldg for 300 and Credit Dep Eq for 250 and it worked out perfectly. I REALLY appreciate your help!

Thx for your quick response !