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what is depreciation ? and its entries ?
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Answer Posted / nisha
depreciation is wear & tear arises in the value of asset
due to its use & passage of time. it shall be calculated on
historical cost or any value replacing the historical cost.
Provision For Deperciation A/C DR
To Fixed Asset A/c
P&L A/c DR
To Provision For Deperciation A/C
| Is This Answer Correct ? | 21 Yes | 2 No |
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