Hi I was asked to do a trial balance and I don't know whether I should put depreciation and accumulated depreciation in it? And also does accumulated depreciation include this years charge?
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Hi I was asked to do a trial balance and I don't know whether I should put depreciation and accumulated depreciation in it? And also does accumulated depreciation include this years charge?
Yes expense depresiation in debits and accumulated depresion as a credit
Every time you post something in depresiation expence you have to crdit accumulated dpresion and never credit the asset your depresion is for
OK thanks for your help.. will it balance then if your depreciation expense is different than your accumulated depreciation? Does the accumulated depr include the deprecation expense for the year?
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