Ok, i was little bit confused about when u write off equipment
For example:
lets say i bought a machine, for 100$, i would ,debit equipment and credit cash, then after some time the machine got depreciated with no salvage value, so at this point i would write, Accumilated dep. debit this 100 and credit equipment for 100, but how does the expenss register????? i though acum dep. is a contra asset account, not and expense account, or is it?
2007-11-18
14:20:22
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4 answers
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asked by
mpirumov
1