Question

journal entry of depreciation on plant

Answer 1

The purpose of the journal entry for depreciation is to achieve the matching principle. In each accounting period, part of the cost of certain assets (equipment, building, vehicle) gets moved from the balance sheet to depreciation expense on the income statement so it can be matched with the revenues obtained by using these assets.

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Answer 2

Depreciation A/c Dr.
To plant A/c



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