Answer / sridharan.v

Depreciation is a nominal a/c.i.e dr all expenses &losses.
cr all incomes & gains.So while Depreciating dr
depreciation A/c.All assets are Real acount. i.e debit what
comes in & credit what goes out. so When asett comes in we
will debit asset A/c & normally asset a/c will have Dr
balance.To decrease the value of the asset we have to Cr
asset A/c. Therefore The entry for depreciation is
Depreciation A/c Dr XXX
To Fixed Asset A/c XXX

Answer / rajesh

below is the entry for depreciation

Dr Depreciation
Cr Fixed Asset (Eg.Computer or Vehicle ) XXX

Answer / mahesh babu

Depreciation A/c Dr

to Fixed Asset A/c or Asset A/c

(Being depreciation charged on asset)

Answer / pardeep kumar

Depriciation A/C Dr.

To Fixed Assets A/c

(being dep. charged on fixed assets)

Answer / ravichandra

Depreciation a/c dr
to fixed asset a/c

Answer / sinduja .r

Adjusting entry

Depreciation A/c Dr
To asset A/c
(dep provided)

Transfer entry

profit and loss A/c Dr
To depreciation A/c
(dep transferred to
profit and loss account)

Answer / mohammedghousemohiuddin

Depreciation a/c Dr.
To Accumulated Depreciation on concerned fixed asset
(being the depreciation calculated for the year....)

Answer / guest

depreciation ac dr
to accumulated depreciation

Answer / suhas

Depriciation A/c
To Fixed assets A/c

Being depriciation comes in a nominal account rule and
rule of nominal a/c is dr all expenses and losses and cr
all income and gains

Asset comes in real a/c and the rule for real account is dr
what comes in and cr what goes out. thats after
depreciating the assets its value becomes to zero in the
end thats why the above entry.

Answer / ali asad

depreciation is not an actual expense paid in cash, but it
is assumed by owner to estimate the useful life of an
asset.we determine the life span of an asset then we apply
a certain rate of depriciation upon the asset so that we
can purchase a new asset after the finishing of the useful
life of an asset.
As we use an asset it certainly loose its efficiency.change
in efficiency is its depreciation.due to resuce in its
efficienc the asset reduce its value,however we are not
paying it in actual so there is no ivolvement of bank or
cash at all.
correct entry is:

Depriciation A/c

to Accumulated Dep.A/c
depreciation is an expense and dbit to profit & loss and
Acc.dep. is transfer to reserves on credit side of
balancesheet so Assets are on debit side and the
Acc.depriciation automatically adjust the balance of assets
on debit side of balance sheet.

What is Debit Note\ Credit Note. Detail Pls.

2 Answers   ABC,

Expand C & F Agent

3 Answers  

Expand----------MTSC

0 Answers  

how much percentage of ESI will be deducted in salary?

10 Answers   Amaravati, Mayur,

outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited

0 Answers  

Why would dividend declared not be included when calculating net income?

5 Answers  

how will i develop my fears in interviewd?

0 Answers  

When we deposits FBT? How to calculate FBT?

1 Answers  

what is buy back of share & why a company go for it?

2 Answers  

PLEASE CAN ANY ONE LET ME KNOW CURRENT RATES OF P.F. & ESI , PROFESSIONAL TAX, SERVICE TAX AND CALCULATION IF THE GROSS SALARY IS 10,000/-

1 Answers  

EXPAND___________LCD

1 Answers  

Tds entry of rent? and Rate of TDS ?

2 Answers