DEPRECIATION BASICS! With Journal Entries

👉 Confused by accounting? Download this free cheat sheet: https://accountingstuff.com In this video you'll learn how Depreciation works in Accounting. We'll work through a Straight Line Depreciation example and explore the Journal Entries that need to be posted. Others depreciation methods include... ▪ Straight Line Depreciation Method →    • STRAIGHT LINE Method of Depreciation in 3 ...   ▪ Double-Declining Balance Method →    • DOUBLE DECLINING BALANCE Method of Depreci...   ▪ Sum of the Year's Digits Method →    • SUM OF THE YEAR'S DIGITS Method of Depreci...   ▪ Units of Production Method →    • UNITS OF PRODUCTION Method of Depreciation   This episode of Accounting Stuff is part of a mini-series on Depreciation in Accounting. You can find the link to the whole playlist here ⬇️ 🔗Full Depreciation Playlist →    • How to Calculate DEPRECIATION (Mini-Series)   🔴Subscribe for more Accounting Tutorials → https://geni.us/subtothechannel ⏱️TIMESTAMPS 00:00 - Intro 00:29 - What is Depreciation? 01:09 - Why do we Depreciate? 01:11 - Accrual Method of Accounting 01:43 - Adjusting Entries Definition 02:03 - How does Depreciation work? 02:21 - Capitalization Definition 02:43 - Depreciation Methods 03:39 - Depreciation Schedule 04:01 - How to record Depreciation using Journal Entries 04:05 - Journal Entry Definition 04:11 - DEALER (Accounting Acronym) 04:43 - How to Capitalize an Asset 06:28 - How to Record a Depreciation Expense using Journal Entries 08:03 - Contra Asset Definition 10:36 - Clearing Journal Entry 🔝 CLOUD ACCOUNTING SOFTWARE ▪ XERO (Free Trial / Discount) → https://xero5440.partnerlinks.io/08mf... ▪ QuickBooks Online USA (Free Trial / Discount) → https://geni.us/quickbooksonlineusa ▪ QuickBooks Online Canada (Free Trial / Discount) → https://geni.us/quickbooksonlinecanada 🔎FAQ ▪ My Favourite Accounting Book for Beginners → http://geni.us/5mKR7m 🚶FOLLOW ME ON ▪ Instagram →   / accountingstuff   ▪ TikTok →   / accounting_stuff   ▪ Facebook →   / thisisaccountingstuff   🎬LEARN ACCOUNTING BASICS FOR FREE ▪ The Full Playlist →    • ACCOUNTING BASICS for Beginners (Whole Pla...   ________________________ DISCLAIMER Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you! ________________________ #accounting #accountingbasics #accountingstuff