what is entry for depreciation?
Answer Posted / 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
Is This Answer Correct ? | 255 Yes | 23 No |
Post New Answer View All Answers
What is the process of VAT & CST Registration?
Give the balance sheet schedules ,what is differe tax, GIVE THE RATES OF DIFFERED TAX FOR THE YEAR 2008-09
Hai i am mathi Preparing for bsrb clerical examinations.If anybody had that please mail me at mathiy@rediffmail.com
Please explain a Representative Personal Account.
what is the cost and financial accounting? what is double entry system ?
Pls Give me Solution for me. Bcz i m persuing b.a iii But now i m working in accounts . So what i do In future .
WHAT IS PROSPECTUS?
what is monetary polasy and how it is different from trade polacy? how it will impact on stockmarkets in India?
An applicant paid excess amount to the Government Office through a demand draft for a particular permission/license instead of actual fees. Later he went to government office and requested to return the previously submitted demand draft. Can he get back the Previously submitted demand draft(which was not adjusted into government account) duly paying he actual fee?
Plz Give the Inventry Accounting Procedure 1.Domestic Purchases ( VAT,CST,& Excise) 2.Import Purchases ( Direct Expences & Excise ) 3.When Will the Price Diffrence Entry Happen? 4.Cash Discount & Trade Discount On Purchases? 5.Domestic Sales ( VAT,CST,& Excise) 6.Export Sales ( Customes ,Excise ) 7.Cash Discount & Trade Discount On Sales?
What do mean by Computerization of accounts
Define capital
Who to create a budget on software company
what is status report? and flow report?
we are run construction (residence & commercial)last year we are sale 4 flats (16 flats apartment) registration value example:10.75 * 4 = 43.00 but we are collected from customers 45.00 total so 45 - 43 = 2.00 this amount we are booking additional agreements work amount (income)because we are standing sub contractors expendeture side 2.00, we are service tax paid or not ?