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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 |
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