Question

(9)
Where and how depreciation is disclosed in the balance sheet?
(10) To which account and side, profit on sale of asset is recorded ?​

Answer 1

Answer:

debit

Explanation:

debit what comes in and sale on profit is income so sale of profit comes on debit side

Answer 2

Answer:

9. Depreciation is show in profit and loss account if provision for depreciation is not maintained , if provision for depreciation account is maintained it is show in liabilities side

10. The profit on sale of asset is recorded on the credit side of profit and loss account

Explanation: