Non-Current Asset Formats: Depreciation Expense Journal Entry Format (Copy)
Depreciation Expense Journal Entry Format
Standard Depreciation Journal Entry (Exam-Preferred)
| Date | Particulars | Dr (Amount) | Cr (Amount) |
|---|---|---|---|
| Depreciation Expense Account (Dr) | xxxx | ||
| Accumulated Depreciation Account (Cr) | xxxx | ||
| (Being Depreciation Charged For The Year) |
- Depreciation Expense Always Debited
- Accumulated Depreciation Always Credited
- Narration Is Mandatory
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Depreciation Journal Entry Without Date Column (Accepted)
| Particulars | Dr (Amount) | Cr (Amount) |
|---|---|---|
| Depreciation Expense Account (Dr) | xxxx | |
| Accumulated Depreciation Account (Cr) | xxxx | |
| (Being Depreciation Charged For The Year) |
- Used When Date Is Not Provided
- Structure Must Still Be Clear
Depreciation Journal Entry For Specific Asset (Named)
| Date | Particulars | Dr (Amount) | Cr (Amount) |
|---|---|---|---|
| Depreciation Expense – Motor Vehicles (Dr) | xxxx | ||
| Accumulated Depreciation – Motor Vehicles (Cr) | xxxx | ||
| (Being Depreciation Charged On Motor Vehicles) |
- Asset Name Must Match Ledger Account
- Separate Accounts Used For Each Asset Type
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Depreciation Journal Entry For Partial Year (Format)
| Date | Particulars | Dr (Amount) | Cr (Amount) |
|---|---|---|---|
| Depreciation Expense Account (Dr) | xxxx | ||
| Accumulated Depreciation Account (Cr) | xxxx | ||
| (Being Depreciation Charged For Part Of The Year) |
- Same Structure Used For Full Or Part-Year
- Amount Adjusted In Calculation, Not Format
Depreciation Journal Entry When Multiple Assets Exist
| Date | Particulars | Dr (Amount) | Cr (Amount) |
|---|---|---|---|
| Depreciation Expense Account (Dr) | xxxx | ||
| Accumulated Depreciation – Asset A (Cr) | xxxx | ||
| Accumulated Depreciation – Asset B (Cr) | xxxx | ||
| (Being Depreciation Charged On Assets) |
- Multiple Credit Entries Allowed
- Total Debit Must Equal Total Credit
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Depreciation Journal Entry When Asset Is Revalued (Format)
| Date | Particulars | Dr (Amount) | Cr (Amount) |
|---|---|---|---|
| Depreciation Expense Account (Dr) | xxxx | ||
| Accumulated Depreciation Account (Cr) | xxxx | ||
| (Being Depreciation Charged On Revalued Amount) |
- Format Remains Unchanged
- Only Depreciation Amount Changes
Common Narrations Used In Exams
- (Being Depreciation Charged For The Year)
- (Being Depreciation Charged On Non-Current Assets)
- (Being Depreciation Charged On Motor Vehicles)
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course
Depreciation Journal Entry Presentation Rules (Exam Scoring)
- Debit Written First
- Credit Written Second
- Correct Use Of Dr And Cr
- Narration Included And Bracketed
- Amounts Must Balance
Compact Depreciation Journal Entry Format (Short Questions)
Depreciation Expense Account Dr xxxx
Accumulated Depreciation Account Cr xxxx
(Being Depreciation Charged For The Year)
One-Glance Emergency Exam Template
Debit: Depreciation Expense
Credit: Accumulated Depreciation
Written And Compiled By Sir Hunain Zia (AYLOTI), World Record Holder With 154 Total A Grades, 7 Distinctions And 11 World Records For Educate A Change AS Level Accounting Full Scale Course