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Les 21 3
- 1. PREPARING PLANT ASSET RECORDS
1
2
3
1. Complete Section 1 when asset is purchased.
2. Do not complete Section 2 until asset is disposed of.
Lesson 21-3, page 555
3. Record annual depreciation expense in Section 3. © South-Western
Educational Publishing
- 2. JOURNALIZING ANNUAL DEPRECATION EXPENSE
2
1
3 3
1. Depreciation Expense Debit
2. Accumulated Depreciation Credit
Lesson 21-3, page 556
3. Record Adjusting Entry © South-Western
Educational Publishing
- 3. POSTING AN ADJUSTING ENTRY FOR DEPRECIATION
EXPENSE
1. Debit
Depreciation
2
Expense
1 2. Credit
Accumulated
Depreciation
Lesson 21-3, page 557
© South-Western
Educational Publishing
- 4. TERMS REVIEW
plant asset record
Lesson 21-3, page 558
© South-Western
Educational Publishing