Sentences with phrase «credit accumulated depreciation»
Not exact matches
When equipment are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and the resulting gain or loss is credited or charged to income.
https://www.sec.gov/
A debit to Depreciation Expense and a credit to Accumulated Depreciation will reduce assets and net income.
Columns for: - date - bank account debit - bank account credit - property manager account debit - property manager account credit - rental income (credit)- other income (credit)- one column for each type of expense using the categories that the tax authority uses for tax returns (about 10 of them... all debits)- depreciation (debit)- accumulated depreciation - owner equity (credit)- a check sum column