Accountancy, asked by santhukulal, 11 months ago

what is tha entry for depreciation on building

Answers

Answered by itzBrainlyBoy

26

Answer:

The basic journal entry for depreciation is to debit the Depreciation Expense account (which appears in the income statement) and credit the Accumulated Depreciation account (which appears in the balance sheet as a contra account that reduces the amount of fixed assets)..

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Answered by SainaPaswan

3

The basic journal entry for depreciation is to debit the Depreciation Expense account (which appears in the income statement) and credit the Accumulated Depreciation account (which appears in the balance sheet as a contra account that reduces the amount of fixed assets)

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