what is entry for depreciation?
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1) deduct depreciation from particular assets
2) profit and loss accounts credit side
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / shubhchintak
Dear Satyaki_raju@yahoo.com i do totally agree with the
answer of Ali Asad and of the teacher, they both explained
the depreciation in a way that every can understand it very
well. and about your answer, your answer is also correct
but to extent of examz.While the method used in pracicle
life is the method explained by teacher & Ali Asad. further
more i would like to request you to kindly encourage the
people rather than being rude with their answer.
Dear Ali Asad & Teacher i will erquest you to keep posting
your answer on all the question.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sunil
Depreciation A/c Dr
To Asset Account
(Becing Depreciaton charged on asset)
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / deepak kumar polai
Calculate 10% Depreciation on Furniture By Using Straight Line Method.cost Furniture 10000, Installation 500. its total life 10 year.
Ans.10000+500/10=1050
Depreciation A/c Dr. Rs. 1050
To Furniture A/c Rs. 1050
(Being 10% Depreciation charged on furniture)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sreekanth
for depreciation
depreciation a/c Dr
to fixed asset(land,buildings,machinery etc)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / shylaja
depreciation a/c dr
to concerned asset
when ever depreciation is charged on an asset, the value of
that asset goes down.in order to reduce the balance of the
asset account should be credited.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / nikhil
Deprication account Dr
To Fix Assets account
2nd Entry will be
Profit & Loss account Dr
To Deprication account
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / paluri veera bhadra rao
Depreciation is Loss so. This one is Taken on Debit side.
As Per Accounting Basics . All Losses & Expneses Debit
All Gains & Income Credit.
So coming to Entry. Depreciation is Dr
Fixed Assed Vehile. Computers Cr
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Real Entry Is
Depreciation Charges A/c Dr,
To Fixed Asset
Or
Deperciation Charges A/c Dr,
To Acqumulated Deperication
(((Both Entry Are coorected)0
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / deepak kumar polai
Example for Depreciation.
Depreciation A/c Dr.
To Fixed Asset A/c
| Is This Answer Correct ? | 0 Yes | 0 No |
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