November 2003
Intermediate to advanced
186 pages
2h 50m
English
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Retirement
If a company keeps an asset until it is fully depreciated, then gets rid of it (let's say the company throws it out), this is called a retirement. The entry for a retirement removes both the asset account and the accumulated depreciation account. Let'sgo back to our example. Let's say the asset cost $50,000 and was fully depreciated (meaning that Accumulated depreciation was $50,000). The journal entry to retire the asset we would be:
If the asset is retired in the fourth year, when the accumulated depreciation is $30,000, the entry to retire the asset is:
You can see that we need a debit to balance the journal entry. The debit we ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.