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    jwhitch's Avatar
    jwhitch Posts: 1, Reputation: 1
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    #1

    Nov 24, 2011, 12:00 PM
    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.
    ksrock's Avatar
    ksrock Posts: 1, Reputation: 1
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    #2

    Jul 25, 2012, 12:03 PM
    You credit the vehicle asset account and debit the accumlated depreciation, if not fully depreciation the difference goes to losses realized
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