Answer / srinivas sk

Every Year we depreciate the fixed assets value as per the
companies act as companies polacies dep is ( slm or wdm
methods ).

Accumulated deprciation entry is

Dr Depreciation A/c
Cr Provision for Depreciation A/c

( Being dep for the year accumuated )

Answer / k. srinivasa rao

Depreciation should be accounted every year, to know the
exact value of the asset as on particular date. it usefull
to resale of the asset also.

Depreciation a/c. (Indirect Expenses)

to Depreciation Reserve (Fixed Assets group)

(Being depreciation accounted for the year ....)

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