what is entry for depreciation?
- 44 Answers
- 70289 Views
- Genpact, IBM, Maersk, OPI Global, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
1) deduct depreciation from particular assets
2) profit and loss accounts credit side
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / shubhchintak
Dear Satyaki_raju@yahoo.com i do totally agree with the
answer of Ali Asad and of the teacher, they both explained
the depreciation in a way that every can understand it very
well. and about your answer, your answer is also correct
but to extent of examz.While the method used in pracicle
life is the method explained by teacher & Ali Asad. further
more i would like to request you to kindly encourage the
people rather than being rude with their answer.
Dear Ali Asad & Teacher i will erquest you to keep posting
your answer on all the question.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sunil
Depreciation A/c Dr
To Asset Account
(Becing Depreciaton charged on asset)
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / deepak kumar polai
Calculate 10% Depreciation on Furniture By Using Straight Line Method.cost Furniture 10000, Installation 500. its total life 10 year.
Ans.10000+500/10=1050
Depreciation A/c Dr. Rs. 1050
To Furniture A/c Rs. 1050
(Being 10% Depreciation charged on furniture)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sreekanth
for depreciation
depreciation a/c Dr
to fixed asset(land,buildings,machinery etc)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / shylaja
depreciation a/c dr
to concerned asset
when ever depreciation is charged on an asset, the value of
that asset goes down.in order to reduce the balance of the
asset account should be credited.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / nikhil
Deprication account Dr
To Fix Assets account
2nd Entry will be
Profit & Loss account Dr
To Deprication account
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / paluri veera bhadra rao
Depreciation is Loss so. This one is Taken on Debit side.
As Per Accounting Basics . All Losses & Expneses Debit
All Gains & Income Credit.
So coming to Entry. Depreciation is Dr
Fixed Assed Vehile. Computers Cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Real Entry Is
Depreciation Charges A/c Dr,
To Fixed Asset
Or
Deperciation Charges A/c Dr,
To Acqumulated Deperication
(((Both Entry Are coorected)0
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / deepak kumar polai
Example for Depreciation.
Depreciation A/c Dr.
To Fixed Asset A/c
| Is This Answer Correct ? | 0 Yes | 0 No |
What is the use of final account?
why profits are shown as liability and loss as asset in balance sheet?
Define The Term Journal And Explain The Present Day Use?
How to calculat closing stock?
define cost of goods sold
What is BRS? What is the use of BRS?
While closing the accounts at the year end Closing stock is shown on ---------------and-----------
What is cash profit? how can we calcute?
Kindly solve the following problem. Financial accounting. 1. Bheema does not maintain his book in the double entry system . His books showed following facts. Receipts for the year ended 31.12.2007 from sundry Debtors 17625.00 Cash sales 4125.00 paid by bheema (proprietor) 2500.00 total 24250.00 payments made for the year ended 31.02.2007 new machinery purchased 625.00 drawings 1500.00 wages 6725.00 salaries 1125.00 interestpaid 75.00 telephone 125.00 Rent 1200.00 lighting 475.00 sundry expenses 2125.00 sundry creditors 7625.00 total 21600.00 Assets and Liabilities As on 31.12.2006 As at 31.12.2007 sundry creditors 2525.00 2400.00 sundry Debtors 3750.00 6125.00 Bank 625.00 ? stock 6250.00 3125.00 plant 7500.00 7315.00 from the Above data , prepare TRADING A/C, PROFFIT & LOSS A/C for the year ended 31st december 2007 and the BALANCE SHEET as on on that date. Kindly solve the problem
what is quick asset
What is the process of VAT & CST Registration?
EXPAND_______________TUDA
Audit 
