Give the entry of Depreciation. Along with it's definition.
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Heyaa,
Depreciation means decrease in the value of Fixed assets , due to continuous use & Tear & wear & Time.
Entry of Depreciation.
Depreciation a/c. Dr
To fixed assrs a/c.
Depreciation means decrease in the value of Fixed assets , due to continuous use & Tear & wear & Time.
Entry of Depreciation.
Depreciation a/c. Dr
To fixed assrs a/c.
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Depriciation is defined as the decriment of the monetary value of an asset decreases over time due to use, wear and tear or obsolescence.
Entry of Depreciation.
To Machinery A/C 10,000
Entry of Depreciation.
Let’s assume that a piece of machinery worth 1,00,000 is charged depreciation (Straight line method) at 10%.
The journal entry will be;
Depreciation A/C 10,000To Machinery A/C 10,000
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