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what is the entry for accumulated depreciation?n why it is
used?when it is necessary?
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Answer / srinivas sk
Every Year we depreciate the fixed assets value as per the
companies act as companies polacies dep is ( slm or wdm
methods ).
Accumulated deprciation entry is
Dr Depreciation A/c
Cr Provision for Depreciation A/c
( Being dep for the year accumuated )
| Is This Answer Correct ? | 16 Yes | 2 No |
Depreciation should be accounted every year, to know the
exact value of the asset as on particular date. it usefull
to resale of the asset also.
Depreciation a/c. (Indirect Expenses)
to Depreciation Reserve (Fixed Assets group)
(Being depreciation accounted for the year ....)
| Is This Answer Correct ? | 2 Yes | 5 No |
what is the difference between cash flow and fund flow?
The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
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