Question

how you deal with provision for depreciation a/c or accumulated depreciation account?​

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Answer 1

Answer:

Accumulated Depreciation is the title of the contra asset account on the balance sheet which is used when depreciation expense is recorded each accounting period. Provision (or depreciation expense) for depreciation is the annual expense that a company incurs to indicate the loss of economic value of an asset.

Answer 2

At any given time, the balance on provision for depreciation account represents the total accumulated depreciation that has been provided against the particular asset. No entry is made in the fixed asset account in so far as the depreciation is concerned.

At any given time, the balance on provision for depreciation account represents the total accumulated depreciation that has been provided against the particular asset. No entry is made in the fixed asset account in so far as the depreciation is concerned.