Question

Depreciation on machinery is shown as​

Answer 1

Answer:

Depreciation is charged on the value of fixed assets based on the a certain percentage every year. Depreciation is a reduction in the value of fixed due to its usage and were and tear.

Depreciation is an indirect loss to the business and should be debited to the Profit & Loss account of the particular year by passing the below journal entries:

Depreciation A/c Dr. 25000

To Fixed Assets 25000

(Being depreciation provided)

Profit & Loss A/c Dr. 25000

To Depreciation A/c 25000

Answer 2

Depreciation a/c Dr.
To machinery a/c Cr.
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