Why depreciation is charged in P&L Account?
Answer Posted / n.shankar nath, sr. accountant
Fixed assets are held for the services they yield in the
production of other goods & services called fixed asset,
while getting the finished goods asset value will decrease
year to year i.e. called depreciation it's nothing but
expenditure.
Secondly it's a nominal account, expenses & loses debit &
income & gains credit, that's why depreciation will treat
as expenditure & post into P& L Account
Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
Expand-------SNAT
Take me through the entire vendor cycle.
Suresh agreed to adjust Ramesh due amount of Rs 15000- from his credit balance
explain about mergers & aquisitions? asked on 30/7/09
why you would like to work for the our(AIRLINE) Group ???
Expand DPCO
Apportion Nett profit of rs 325600 among the partners A,B,C and D as per sharing ratios of 26%,13%,32% and the balance to D.Pass journal entry
write about an e-mail to manager seeking permission for leave
Erection and Instalation charges of Rs 7500 to Lift was debited to repairs and maintenance account. Rectify it
how many types of practice accounts?
can you define exogenity endogenity both terms are from economics both are different from exogenous & endogenous variables. I can not find the answers. please help if you can....
WHAT IS CORPORATE ACTION?
what is purchase tax in rajasthan.
WhatIs the limit of duty exemption in smal scale industries.
How do the standards assist the users of financial report?