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what is depreciation ? and its entries ?

Answer Posted / nisha

depreciation is wear & tear arises in the value of asset
due to its use & passage of time. it shall be calculated on
historical cost or any value replacing the historical cost.
Provision For Deperciation A/C DR
To Fixed Asset A/c
P&L A/c DR
To Provision For Deperciation A/C

Is This Answer Correct ?    21 Yes 2 No



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