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General Accounting Discussions: Financial Accounting

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    could anyone tell me that what is the general entry for depreciation ?
    • CommentAuthorzaqperez
    • CommentTimeSep 17th 2009
     
    Dr - Depreciation expense (can be general or specific; e.g., autos, equipment, buildings)
    Cr - Accumulated Depreciation "Asset" (usually this contra-asset account specifically identifies to which asset it is associated with)

    General use of expense account:
    Dr - Depreciation expense $5,000
    Cr - Acc. Dep. Automobiles $1,000
    Cr - Acc. Dep. Office Equipment $1,000
    Cr - Acc. Dep. Buidlings $3,000

    Specific use of expense account:
    Dr- Dep. Exp. Automobiles $1,000
    Cr - Acc. Dep. Automobiles $1,000

    Dr - Dep. Exp. Office Equipement $1,000
    Cr - Acc. Dep. Office Equipment $1,000

    Dr - Dep. Exp. Buildings $3,000
    Cr - Dep. Exp. Buildings $3,000
  3.  
    Hi

    The entrees in general in two sides

    1. Debit
    2. Credit
    Thankful People: ganesh

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