Web Results

What is the accounting entry for depreciation? - Questions ...


Apr 13, 2013 ... The journal entry for depreciation can be a simple entry designed to accommodate all types of fixed assets, or it may be subdivided into ...

What is the accounting journal entry for depreciation ...


The journal entry for depreciation contains a debit to the income statement ... vehicle) gets moved from the balance sheet to depreciation expense on the income ...

Accumulated Depreciation Journal Entry | My Accounting Course


An accumulated depreciation journal entry is an end of the year journal entry ... This car's useful life is 5 years and Bob expects the salvage value to be zero.

Recording purchase of a company vehicle - Accountants Community


As far as listing the vehicle as an asset item, I would give it the full value as a. ... asset, This is what you are going to base your asset value and depreciation on, not ... I would enter a journal entry detailing the purchase and adjustments to final  ...

Journal Entries Examples of Depreciation | Accounting Education


Sep 2, 2011 ... Simple journal entry will be done by writing depreciation account ... c) Profit and loss account will be debit because this is the loss on sale car.

Next post How To Calculate And Record Depreciation [of Fixed Asset]


Apr 16, 2009 ... Calculate the first year of the depreciation expense for a car that had a ... After calculating depreciation expense, here is the type of entry you ...

Disposition of Depreciable Assets - CliffsNotes


When a depreciable asset is disposed of, an entry is made to recognize any unrecord. ... If the entire cost of an asset has been depreciated before it is retired, however, ... and a negotiated amount of cash may be exchanged for a new vehicle. ... the journal entry to record this dissimilar exchange debits forklifts for $26,000, ....

Journal for Partial Payment and Trade-In of Vehicle incl. Depreciation


The old car cost $22,000 and had depreciated by $5,000. A: The journal entry would be: Dr New car....................$20,000. Dr Accumulated depreciation....... $5,000

Fixed Asset Trade In | Double Entry Bookkeeping


Mar 16, 2015 ... A fixed asset trade in journal entry is used to post the acquisition of a new ... accumulated depreciation of 11,000, and purchases a new vehicle ...

accumulated depreciation – Accounting In Focus


If we were writing a journal entry to record depreciation, we would debit Depreciation ... What if the company sold that vehicle for $5,000 cash on June 10 ?