Ask Experts Questions for FREE Help !
Ask
    sudha Naik's Avatar
    sudha Naik Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 30, 2009, 07:57 AM
    Entry for depreciation
    If we made depriciation on a asset,what will be the journal entry for that?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Jan 1, 2010, 01:18 PM

    Debit Depreciation Expense for the amount
    Credit Accumulated Depreciation for the amount
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Journal entry for depreciation [ 1 Answers ]

What is theprocess of creating a journal entry for depreciation

Depreciation Journal entry [ 1 Answers ]

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!

Depreciation Entry [ 3 Answers ]

I have a homework question. Company purchased vehicle for $24,000 cash in 2004. When the car was put in service it's expected life was 120,000 miles with an expected salvage value of $8,400. The company sold the vehicle to an outside buyer @ $10,500. Company depreciates its cars using Units...

Depreciation in an adjusting entry [ 2 Answers ]

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,...

View more questions Search