I want to record a depreciation in journal. The value of depreciation is $500, how should I
Question:
I want to record a depreciation in journal. The value of depreciation is $500, how should I use followings accounts to record?
416 - Depreciation
418 - Bad and Doubtful Debts
420 - Entertainment
425 - Freight & Courier
429 - Equipment Hire
433 - Insurance
437 - Interest Expense
441 - Legal expenses
445 - Light, Power, Heating
449 - Motor Vehicle Expenses
453 - Office Expenses
461 - Printing & Stationery
469 - Rent
473 - Repairs and Maintenance
477 - Wages and Salaries
478 - Superannuation
485 - Subscriptions
489 - Telephone & Internet
493 - Travel - National
494 - Travel - International
496 - Low Value Tools & Equipment
499 - Realised Currency Gains
500 - Distributions to Partners
505 - Income Tax Expense
510 - Loss on Disposal of Assets
Assets
620 - Prepayments
635 - Allowance for Doubtful Debts
640 - Stock on Hand
710 - Plumbing Equipment
711 - Less Accumulated Depreciation on Plumbing Equipment
720 - Computer Equipment
721 - Less Accumulated Depreciation on Computer Equipment
730 - Motor Vehicles
731 - Less Accumulated Depreciation on Motor Vehicles
740 - Capital Gain on Disposal of Assets
Liabilities
805 - Accrued Expenses
810 - Contra Clearing Account
820 - GST
830 - Income Tax Payable
840 - Historical Adjustment
850 - Suspense
860 - Rounding