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what is entry for depreciation?
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Answer Posted / soundararaju
Depreciation a/c DR
Depreciation Reserve a/c CR
Example
Depreciation a/c DR
Depreciation Reserve ( computer ) a/c CR
We have to create Reserve account head under Fixed
Assets Group for each Fixed Asset items and we have to
credit reserve account instead of Fixed Assets directly.
| Is This Answer Correct ? | 20 Yes | 7 No |
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