Accountancy, asked by prathameshyesaji, 4 months ago

depreciation charged on fixed assets is credited to which ac?​

Answers

Answered by Anonymous
2

Answer:

The basic journal entry for depreciation is to debit the Depreciation Expense account (which appears in the income statement) and credit the Accumulated Depreciation account (which appears in the balance sheet as a contra account that reduces the amount of fixed assets).

Answered by berashyamal564
0

Answer:

The basic journal entry for depreciation is to debit the Depreciation Expense account (which appears in the income statement) and credit the Accumulated Depreciation account (which appears in the balance sheet as a contra account that reduces the amount of fixed assets).

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