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1, How enter Accumulated Deprication Journal Entry, (Land&
Building Value 500000 AED, How to pass entry?
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Answer / sameer
Depreciation a/c dr
to accumlated depreciation
dericiation will go to p&l. accumlated depriciations is a contra asset it will be shown on the balance sheet under fixed asset " less accumlated depreciation"
the reason for accumalted depriciation is to show in the balance sheet the book value of our asset and how much depriciation we have provided on this assest
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Answer / syedghouse
Accumulated Depreciation on Land&Uilding A/c------Dr.
to Land&Uilding A/c
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Answer / rajiv
Deprecition Account DR 500,000.00 -
FIXED ASSETS CR - 500,000.00
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