Question

Do we make a deprecation account when we sell the machine?​ please tell me

Answer 1

Depreciation is an integral component of accounting. It stands to impact the preparation of accounts. The amount recorded under the head of depreciation ultimately impacts the amount shown as profit or loss in the statement of income. Hence, it is pertinent to study and make calculations for the same in a calculated manner, which ensures fair and accurate presentation of accounts. Let us study the methods of recording depreciation as per depreciation accounting