Question

sinking fund method of depreciation which of the following account is credited credited for providing depreciation​

Answer 1

Answer:

Sinking fund method is a method of calculating depreciation for an asset in which apart from calculating depreciation, it also keeps aside a fund for replacing the asset at the end of its useful life. This method is used when the assets that need to be replaced are of high cost

Explanation:

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Answer 2

Answer:

Under this method, one Depreciation Fund Account is opened and the amount of depreciation is credited to that account. The asset account year after year stands at original cost.