Memory Aid
For the Adjustment to Record Depreciation

If you don't remember this adjustment, you'll be DEAD.

D

E

A

D

Depreciation

Expense

Accumulated

Depreciation

 

Journal Entry:

Depreciation Expense
Accumulated Depreciation

The Depreciation Expense and Accumulated Depreciation accounts should further be followed by the account title of  the asset that is being depreciated--equipment, automobile, building, etc.