Question

can a company comply with AS create provision for depreciation?​

Answer 1

Answer:

ok

Explanation:

Depreciation is calculated annually based on the methods specified in the statute. Companies Act prescribes two methods for calculating depreciation: Straight Line Method (SLM) and. Written Down Value Method (WDV).

Answer 2

Answer:

One provision for depreciation account is opened for every fixed asset account. ...

At the end of each financial year, we debit the depreciation expense account and credit the provision for depreciation (on relevant fixed asset account) with the amount of depreciation calculated for the year.

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