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Why depreciation is charged in P&L Account?
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Answer Posted / n.shankar nath, sr. accountant
Fixed assets are held for the services they yield in the
production of other goods & services called fixed asset,
while getting the finished goods asset value will decrease
year to year i.e. called depreciation it's nothing but
expenditure.
Secondly it's a nominal account, expenses & loses debit &
income & gains credit, that's why depreciation will treat
as expenditure & post into P& L Account
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