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  • SAP Asset Accounting - Journal Entries

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    Shareef Md
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    This document outlines common journal entries for fixed assets, including entries to record purchases, depreciation, sales of assets resulting in gains or losses, and write-offs of fully depreciated assets. The entries show debits and credits to accounts for fixed assets, accumulated depreciation, cash, gains or losses on disposal, and depreciation expense.

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    SAP Asset Accounting Journal entries all in one place

    Original Title

    SAP Asset Accounting- Journal Entries

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    This document outlines common journal entries for fixed assets, including entries to record purchases, depreciation, sales of assets resulting in gains or losses, and write-offs of fully depreciated assets. The entries show debits and credits to accounts for fixed assets, accumulated depreciation, cash, gains or losses on disposal, and depreciation expense.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    1K views2 pages

    SAP Asset Accounting - Journal Entries

    Uploaded by

    Shareef Md
    This document outlines common journal entries for fixed assets, including entries to record purchases, depreciation, sales of assets resulting in gains or losses, and write-offs of fully depreciated assets. The entries show debits and credits to accounts for fixed assets, accumulated depreciation, cash, gains or losses on disposal, and depreciation expense.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 2

    Typical Fixed Assets Journal Entries

    Account Debit Credit


    Fixed assets XXX
    Cash XXX
    Purchase of fixed assets journal entry

    Account Debit Credit


    Depreciation expense XXX
    Accumulated depreciation XXX
    Journal entry to record depreciation

    Account Debit Credit


    Cash XXX
    Accumulated depreciation XXX
    Fixed assets XXX
    Gain on disposal XXX
    Gain on sale of asset journal entry

    Account Debit Credit


    Cash XXX
    Loss on disposal XXX
    Accumulated depreciation XXX
    Fixed assets XXX
    Loss on sale of asset journal entry

    Account Debit Credit


    Accumulated depreciation XXX
    Fixed asset XXX
    To remove a fully depreciated asset

    Account Debit Credit


    Accumulated depreciation XXX
    Loss on disposal XXX
    Fixed asset XXX
    Asset write off journal entry

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