Journal Entry for Depreciation?

Answer

A person can adjust journal entries for depreciation by determining the estimate changes. The depreciation figures also need to be determined. The Depreciation expense needs to be logged.
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Q&A Related to "Journal Entry for Depreciation?"
1. Find the original journal entry. For example, a company has a car that depreciates at $5,000 a year. The journal entry would be: debit "Depreciation Expense" by $5,000
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Journal Entry for an Auto Depreciation is as follows: [Debit] Depreciation Expense xxxx. [Credit] Auto Asset xxxx. Another way is as follows: 1 - [Debit] Depreciation Expense xxxx
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DR Cash $150. DR Accumulated Depreciation $100. CR Equipment $200. CR Gain/(Loss) on Sale of Equipment $50. If you sold it for a $50 loss, the entry would be the same except that
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Always put the date first. Put your thoughts on paper, just let the pen flow and write what you are feeling. Everyone should keep a journal, it's relaxing.
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