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what is depreciation, what isdouble entry,alltypes of
assets,alltypes of liabilities
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Answer Posted / abdul rashid
Depreciation is the continuous decrease in the value of
assets.
Depreciation is debited and the assets on which it is
charged is credited, e.g.
Depreciation A/C Dr. Rs.xxxxx
To, Machinery A/C Rs.xxxxx
In my 12 years of accounting experience I have never heard
of charging depreciation on liability.
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