Question

journal entry for depreciation furniture purchase for 10000 @ 10% per annum for 3 months​

Answer 1

Answer:

depreciation a/c Dr. 250

To furniture a/c. 250

(being depreciation of 3 months charged on furniture @10%p.a.)

profit and loss a/c Dr. 250

To depreciation a/c. 250

(being depreciation transferred to profit and loss a/c)