Where accumulated Depreciation appears - b/s or p&l. please
provide journal entry while accumulating and also while
using the fund for purchase of new assets.
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Answer / seetharaman
Acc dep will be deducted from gross block of FA in B/S, and
it will not come anywhere in p&l
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / anshita dutta
When accumulating depreciation...
P&l a/c ....dr
To acc dep a/c
When using for purchase /sales of asset
Acc dep a/c ....dr
To asset a/c
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Answer / amar
Deprecation show in expenses side in P&L and deduct value in assets,this journal entry :
deprecation a/c dr.
to Assets
| Is This Answer Correct ? | 1 Yes | 2 No |
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