Journal Entry For Accumulated Depreciation On Equipment
The Adjusting Journal Entry to record for Accumulated Depreciation (AD) on equipment is shown below: Depreciation Expense Account - Equipment XXX Accumulated Depreciation a/c - Equipment XXX (Depreciation On Equipment Recorded For The Period) Here, we debit DE as it is allocated while AD - Equipment is credited as it is the reversal of non-current assets or fixed asset account which reduce its balance on balance sheet. What Kind Of Account Is Accumulated Depreciation Equipment? Depreciation Expense Account ...