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What is the difference between Depreciation charged in P&L a/c
and the Depreciation deducted from Assets' value in Balance
Sheet, in an accounting period?
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Answer / khaleel
In P&L depreciation is shown as expense however, in balance
sheet it is deducted from the asset.
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / rakesh
there is no much difference between the dep charged in p&l and amount deducted from assets from the balance sheet.like EX:
when doing final accounts the adjustments are made to do the balance i.e., firstly we have to deducte the amount from the assets and then we have to repeat the same in the p&l a/c.
| Is This Answer Correct ? | 5 Yes | 4 No |
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