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-   -   Depreciation for accounting adjusting entry (https://www.askmehelpdesk.com/showthread.php?t=275015)

  • Oct 29, 2008, 01:13 PM
    xoxbam11
    Depreciation for accounting adjusting entry
    What is the adjusting entry for depreciation?
  • Oct 29, 2008, 01:33 PM
    pready

    When you do the entry it is:

    Debit Depreciation Expense for the amount
    Credit Accumulated Depreciation - (the appropriate PP&E account) for the amount
  • Oct 31, 2008, 05:52 AM
    muslimrao

    Depreciation expense (DEBIT)
    Allowance for Depreciation (CREDIT).

    If Trial Balance shows Allowance for Dep. (CR) balance than less with Adjustment amount.

    If Trial Balance shows Allownace for Dep. (DR) balance than add with Adjustment amouint.
  • Jul 10, 2010, 11:17 AM
    sn70563
    store fixture cost of $5000 will be depreciated over a 10-yr useful life with no salvage value. Depreciation exp is $42 per month.
  • Jul 10, 2010, 11:19 AM
    pready

    Debit Depreciation Expense for the amount and Credit Accumulated Depreciation - Fixtures for the amount

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