Answer / wali rehman

depreciation exp will be debit
acc depreciation of particular asset will be credit

some accountant direct credit particular asset account

Answer / dharmesh parmar

Depriciation A/C Dr.
To Fixed Assets A/c

Answer / shahbaz

DEPRICIATION ACCOUNT ( DEBIT )

ACC. DEPRICIATION ACCOUNT ( CREDITE )

AND

DEPRICIATION ACCOUNT ( DEBIT )

ASSETS ACCOUNT ( CREDITE )

BOTH ARE CORRECT

Answer / pramod

Depriciation a/c ------Dr ***
To Assets a/c ***

(being depriciation charges of assests i.e.Computer,plant &
machinery,vichel,)

Answer / harsh sharma`

depreciation debit
acc. dep. credit

Answer / pooja

1)Depreciation A/C dr
To Fixed Asset A/C
(Being depreciation charged @ ---% for the year)

2)P & L A/C dr
To Depreciation A/C
(Being Depreciation charged to P & L A/C)

Answer / joanna

To record a depreciation, a contra-asset account called
accumulated depreciation has to be created. So the entry is
depreciation expenses Dr
accumulated depreciation Cr
The asset to be depreciated will be still showing in full
amount in Balance sheet under assets. However, accumulated
depreciation will be showing under this asset to reduce the
existing value. The accumulated depreciation account will
not disappear until the asset is sold or being written off
fully.

Answer / ali

Depreciation Ac. Debit
Accumulated Depreciation Ac. Credit

Answer / faisal

Depriciation Charges A/c Dr,
To Accumulated Depriciation

Answer / kannanslm

I agree with sinduja.r

first make a entry for Depreciation, and take the effect as expenses in P/L

Depreciation A/c Dr
To Fixed assets

P/L A/c Dr
To Depreciation Account

How can we link a file, directy to Tally for a update ledger report in M.S.Excel ?

1 Answers  

Is fee income unrestricted income or restricted income?

1 Answers  

Expand---------DSCB

3 Answers  

CAN PRE OPERATIVE EXPENSES BE CAPITALISED? IF YES, HOW CAN IT BE DONE?

6 Answers  

On 01-04-2006 Mr. Dhanpal started business with Rs.2,00,000 cash and opened a bank account with Rs.1,50,000. He purchased furniture for his business for Rs.25,000. Goods were bought from Deendayal for Rs.50,000 on credit. He sold goods for Rs.27,000 in cash and 30,000 on credit. He paid Rs. 2,500 for business expenses during April month. Rs. 10,000 was withdrawn for office purposes from the bank. Find out the closing balance of cash and bank.

13 Answers  

what are real,nominal,personal and impersonal accounts

1 Answers  

what is the difference between time keeping and time booking?

1 Answers  

The Trial Balance of M/S Ram & Co,Shows chosing stock of Rs,30000. It will be recorded in: - .................. (a) Trading A/c; (b) Profit & Loss A/c; (c) Balance Sheet; (d) Both (a) & (b)

4 Answers  

A Customer has a MNC which has a Unit in USA , All use Same Operation Chart of A/c but they also want local reporting for USA unit .What should they do ? Optons : Use Group chart of account & Group a/c no * Use Group a/c no & Alternative a/c no.2 Use Country Specific Chart of A/c

0 Answers  

what is live stock?

4 Answers  

Who are the ISP's? Give Examples

1 Answers  

What is the formula of Debt Equity Ratio? Also define its importance in a firm.

6 Answers   ICAI,