Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Offset entry for asset account decrease (https://www.askmehelpdesk.com/showthread.php?t=614498)

  • Nov 24, 2011, 12:00 PM
    jwhitch
    Offset entry for asset account decrease
    I have to remove a vehicle from our company vehicle asset account. It was not sold, just scrapped so no money was received. What would be my offset entry? I know that if I decrease the asset I have to decrease a liability account but I have no idea what account that would be.
  • Jul 25, 2012, 12:03 PM
    ksrock
    You credit the vehicle asset account and debit the accumlated depreciation, if not fully depreciation the difference goes to losses realized

  • All times are GMT -7. The time now is 01:38 AM.