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-   -   Depreciation in an adjusting entry (https://www.askmehelpdesk.com/showthread.php?t=133186)

  • Sep 24, 2007, 10:59 AM
    Sunshine21
    Depreciation in an adjusting entry
    If the estimated depreciation for office equipment were $42,000, what would the adjusting entry contain?

    I thought u would credit Depreciation Expense, Office Equipment for 42000, but I don't know if that is right??

    The other choices are

    You could credit to accumulated depreciation, office equip for 42000

    Credit to office equip. for 42000

    Or debit to accumulated depreciation, office equip. for 42000.
  • Sep 24, 2007, 07:23 PM
    CaptainForest
    You would:

    Dr. Depreciation Expense 42,000
    Cr. Accumulate Depreciation 42,000
  • Sep 25, 2007, 07:17 AM
    Sunshine21
    Thanks! I actually looked over it again this morning and realized that you would credit the Accumulated Depreciation Expense, Office Equipment!

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