Accountancy, asked by riyawadhwa724, 1 month ago

Write journal entry to transfer depreciation to profit and loss, account at the end of the year

Answers

Answered by Anonymous

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).

Previous Question

Next Question

Similar questions

Computer Science, 23 days ago

Which method of communication will you use when you need to apply for leave at work? b. Blog a Email d. Poster C Newsletter...

English, 23 days ago

essay on the need to protect trees...

Science, 23 days ago

AgNO3(aq)+NaCl(aq)---->AgCl(s)+NaNO3(aq) write the name of reactants and product of above reaction?

Computer Science, 1 month ago

diffrenciate between ht and st...

Chemistry, 1 month ago