Answer / charles rodrigs .c

Depreciation is the decrease in the value of fixed asset due
to wear and tear,passage of time ,obsolescence etc.
Depreciation a/c Dr
To concerned asset

P/L A/C Dr
To Depreciation

Answer / raghu aps evng

Depreciation A/x Dr
assets/machinery Cr
(Being Dep Chagred On Machin at 15%)

Answer / sra1jay

Depreciation is the decrease in the value of fixed asset due
to wear and tear, also known as providing this depreciation on Tangible fixed asset.

Depreciation a/c Dr
To concerned fixed asset

P/L A/C Dr
To Depreciation

Answer / babhu kanchupalli

Depreciation is the continuous decrease in the value of an asset.....due to usage,wear and tear,efflux of time.....
It is an expense to the business.....so according to the nominal accont....we should debit it to the respective asset....the is as below......

Depreciation account. Dr
To Respective asset account
(Being depreciation provided)

For accumulated depreciation.....

Depreciation account. Dr
To Accumulated depreciation account
(being depreciation provided(2nd year))

What are the various methods to depreciate an asset?

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