Vehicle Depreciation

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mstinson
Posts: 1
Joined: Wed Aug 10, 2011 11:17 pm

Vehicle Depreciation

Post by mstinson »

We have a van and realized depreciation was not taken. It is showing on the balance sheet as full amount.
Can a journal entry be used to depreciate to the market value?
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NeilZ
Posts: 10588
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
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Re: Vehicle Depreciation

Post by NeilZ »

mstinson wrote:We have a van and realized depreciation was not taken. It is showing on the balance sheet as full amount.
Can a journal entry be used to depreciate to the market value?
No reason why not. However, here are some threads that may give you some additional information:

viewtopic.php?f=3&t=11480&p=36427&hilit ... ion#p36427

viewtopic.php?f=3&t=6810&hilit=depreciation
Neil Zampella

Using PC+ since 1999.
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