Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Depreciation Journal entry (https://www.askmehelpdesk.com/showthread.php?t=181351)

  • Feb 7, 2008, 08:43 AM
    bzzy06
    Depreciation Journal entry
    When do you make a journal entry for depreciation? Do you set up an account for depreciation when you make the purchase of equipment, or do you wait to depreciate?

    Thanks!
  • Mar 1, 2012, 12:49 PM
    pready
    Usually this is an adjusting entry at the end of an accounting period. Your journal entry will be:
    Debit Depreciation Expense for the amount of depreciation
    Credit Accumulated Depreciation for the amount of depreciation

  • All times are GMT -7. The time now is 02:57 PM.