Answer / sridharan.v

Depreciation is a nominal a/c.i.e dr all expenses &losses.
cr all incomes & gains.So while Depreciating dr
depreciation A/c.All assets are Real acount. i.e debit what
comes in & credit what goes out. so When asett comes in we
will debit asset A/c & normally asset a/c will have Dr
balance.To decrease the value of the asset we have to Cr
asset A/c. Therefore The entry for depreciation is
Depreciation A/c Dr XXX
To Fixed Asset A/c XXX

Answer / rajesh

below is the entry for depreciation

Dr Depreciation
Cr Fixed Asset (Eg.Computer or Vehicle ) XXX

Answer / mahesh babu

Depreciation A/c Dr

to Fixed Asset A/c or Asset A/c

(Being depreciation charged on asset)

Answer / pardeep kumar

Depriciation A/C Dr.

To Fixed Assets A/c

(being dep. charged on fixed assets)

Answer / ravichandra

Depreciation a/c dr
to fixed asset a/c

Answer / sinduja .r

Adjusting entry

Depreciation A/c Dr
To asset A/c
(dep provided)

Transfer entry

profit and loss A/c Dr
To depreciation A/c
(dep transferred to
profit and loss account)

Answer / mohammedghousemohiuddin

Depreciation a/c Dr.
To Accumulated Depreciation on concerned fixed asset
(being the depreciation calculated for the year....)

Answer / guest

depreciation ac dr
to accumulated depreciation

Answer / suhas

Depriciation A/c
To Fixed assets A/c

Being depriciation comes in a nominal account rule and
rule of nominal a/c is dr all expenses and losses and cr
all income and gains

Asset comes in real a/c and the rule for real account is dr
what comes in and cr what goes out. thats after
depreciating the assets its value becomes to zero in the
end thats why the above entry.

Answer / ali asad

depreciation is not an actual expense paid in cash, but it
is assumed by owner to estimate the useful life of an
asset.we determine the life span of an asset then we apply
a certain rate of depriciation upon the asset so that we
can purchase a new asset after the finishing of the useful
life of an asset.
As we use an asset it certainly loose its efficiency.change
in efficiency is its depreciation.due to resuce in its
efficienc the asset reduce its value,however we are not
paying it in actual so there is no ivolvement of bank or
cash at all.
correct entry is:

Depriciation A/c

to Accumulated Dep.A/c
depreciation is an expense and dbit to profit & loss and
Acc.dep. is transfer to reserves on credit side of
balancesheet so Assets are on debit side and the
Acc.depriciation automatically adjust the balance of assets
on debit side of balance sheet.

Difference between Oracle financial consultant and Oracle financial Implementation

1 Answers  

Where we have to take the Director's current account, wages a/c, Accruals, sales tax payable in Balancesheet

1 Answers  

how to solved the shares qusionas ?

0 Answers  

diffrence between the profit center and business area

0 Answers   Deloitte,

What is Purchase Requisition means? Why we used this in MM Module in SAP? what is t.code of it?

0 Answers  

what is the advantages of double entry system

1 Answers  

What is Ledger

3 Answers  

Who would NOT be considered "independent" in the context of an independent examiner?

1 Answers  

What do you means strength of a person in accounting term

1 Answers  

which is the standard debt equity ratio ?

1 Answers  

WHICH IS MORE RISKY TO A BANKER, A CASH CREDIT OR A LETTER OF CREDIT

0 Answers  

Cash discount is allowed to the customer to encourage them - -------------

2 Answers