Question

How to solve question with provision for depreciation account???

Answer 1

When Provision for depreciation is asked to be made, the Asset will remain at its cost. Depreciation will be charged to Provision For Depreciation A/c and the same will be charged to P&L A/c as follows:

1)Depreciation A/c Dr

    To Provision for Depreciation

2)P&L a/c Dr

   To Depreciation A/c