in case of capital bus given in the question and the different comes on the debit side it is treated as
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because there is no money in the bank to be shown as an asset.... side. It is considered to be good style. For this reason also it is worth ... The debit entry in the account for Parkhill Motors.
Explanation:
Every business acquires fixed assets for its use in the business over a period of time. As the benefits of these assets can be availed over a long period of time, thus, due to their regular use, there occurs continuous wear and tear and consequently fall in their value. This fall in the value of fixed assets, due to their regular use or expiry of time is termed as depreciation.
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