357 – Signs – Accumulated Depreciation

Fixed Assets

 

Synopsis

Account 357

Debits

Credits

  1. The accumulated depreciation on signs upon sale, disposal, or lease termination.

  1. The monthly provision for depreciation on all signs capitalized.

 

 

Remarks:

It is recommended that the dealer obtain accounting and tax counsel in establishing proper accounting and depreciation of signs.

 

This account balance represents the total accumulated depreciation of signs recorded in Signs (Account 287).

 

Signs should be depreciated over the expected life of the sign, or the remaining period of the building lease, whichever is less.

Note: