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    xoxbam11's Avatar
    xoxbam11 Posts: 2, Reputation: 1
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    #1

    Oct 29, 2008, 01:13 PM
    Depreciation for accounting adjusting entry
    What is the adjusting entry for depreciation?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 29, 2008, 01:33 PM

    When you do the entry it is:

    Debit Depreciation Expense for the amount
    Credit Accumulated Depreciation - (the appropriate PP&E account) for the amount
    muslimrao's Avatar
    muslimrao Posts: 34, Reputation: 2
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    #3

    Oct 31, 2008, 05:52 AM

    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.
    sn70563's Avatar
    sn70563 Posts: 1, Reputation: 1
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    #4

    Jul 10, 2010, 11:17 AM
    store fixture cost of $5000 will be depreciated over a 10-yr useful life with no salvage value. Depreciation exp is $42 per month.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #5

    Jul 10, 2010, 11:19 AM

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