I'm currently in the middle of a project, but I was wondering how to write a journal entry for a donation that has NO market value and has been entirely depreciated?
Please help!
Journal Entries for Donations?
Mar 24, 2006
1 Replies
"PennyLane" wrote
If you are removing the asset, you credit the asset account, and debit acumulated depreciation.....for the purchase amount of the asset and the fully depreciated amount of accumulated depreciation (which should be the same for a fully depreciated asset).
If it's for something else, then you have to provide more details.
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