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depreciation
What is the journal entry when a depreciation method is changed and there is excess depreciation?
Replies (6)
if u need to charge more depreciation then
depreciation a/c ... dr
to fixed asset
then
profit and loss a/c
to depreciation
depreciation a/c ... dr
to fixed asset
then
profit and loss a/c
to depreciation
No I meant the other side of the fence
I didn't understand u
I meant that excess depreciation has been charged already..
so now u want to increase the value of asset ?
If u have to increas value of asset then,
Fixed asset a/c ... dr excess dep
to depreciation
and then
depreciation
to pnl
Fixed asset a/c ... dr excess dep
to depreciation
and then
depreciation
to pnl
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