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what is entry for depreciation?
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Answer / ramarao.s
Depreciation A/c Dr xxxxx
To Fixed Asset A/c xxxxx
(Being Depreciation Provided
On Fixed Assets)
| Is This Answer Correct ? | 18 Yes | 4 No |
Depreciation a/c DR
Depreciation Reserve a/c CR
Example
Depreciation a/c DR
Depreciation Reserve ( computer ) a/c CR
We have to create Reserve account head under Fixed
Assets Group for each Fixed Asset items and we have to
credit reserve account instead of Fixed Assets directly.
| Is This Answer Correct ? | 20 Yes | 7 No |
Answer / teacher
Depreciation is an Expense so it is DEBIT in journal entry.
To increase Depreciation (expense) we also debit it.
Assets is DEBIT in Journal Entry and a CREDIT reduces it.
Here accumulated depreciation is reducing it.
Journal Entry for Depreciation is
Depreciation (Expense) Dr
Accumulated Depreciation Cr
Depreciation Expense goes to Income statement in whatever
category of I.S. it relates to.
Whereas (Cost - A.D. = Net Book Value) of Assets goes to
Statement of Financial Position.
| Is This Answer Correct ? | 13 Yes | 3 No |
Answer / hari
By Depreciation A/c Dr.
To Fixed Assests A/c Cr.
(Fixed assets are Machine, Furniture Fixture, Equipments
etc.)
(Being Depreciation charges on........... @ %)
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / satyaki_raju@yahoo.com
Mr.Guest you are palying and passing your valuable time.It
is a good site to revise yourself.Moreover I am giving
elderly advice to you to put your name while posting
question or answer.
Depreciation entry is an adjustement entry.Decreasing of
cash or Bank balance will not be occured here.And more over
Bank a/c will not be permitted in Journal voucher
Sri Gouse Mohinuddin saab if you put accumulated
depreciation account in credit where you find place to put
the asset.Think well before you answer any thing
My sincere advice to both of you is hereafter try to answer
or post question thru your e-mail.It will wake up you when
ever the answer posted. It helps you to revise and develop
yourself
| Is This Answer Correct ? | 15 Yes | 7 No |
Mr Guest be careful while answering Depreciation is an year
end closing entry and which is a non cash entry. then how
can you write deprection with bank. Try to use this site to
revise yourself and to become a guide to others
| Is This Answer Correct ? | 12 Yes | 4 No |
Answer / suresh kumar
BY DEPRECIATION A/C DR
TO FIXED ASSETS A/C
BEING DEPRECIATION CHARGES ON FIXED ASSETS
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / prashant gautam
Depreciation A/c Dr xxxxx
to Fixed Asset A/c xxxxx
( being depreciation charged
on fixed assets)
| Is This Answer Correct ? | 10 Yes | 3 No |
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