accumulated depriciation
This query is : Resolved
02 September 2009
Hi all
what is accumulated depriciation with example and treatment in accounts and journal enteries. Please as soon as possible it is urgent
Monia
what is accumulated depriciation with example and treatment in accounts and journal enteries. Please as soon as possible it is urgent
Monia
02 September 2009
Suppose on April 1, 2008 you have purchasd an asset for Rs. 1,00,000. The applicable dep. rate is 25% SLM. So during the year 2008-09, the depreciation charge would be Rs. 25,000. On 31st March 2009 the following entries would be passed:-
Depreciaition A/c.....Dr. 25,000
To Accumulated Dep. A/c
The depreciation expenses would be transferred to P/L Account.
on 31 March 2009, the Balance sheet would be shown as below:-
Fixed Assets
Gross Block 1,00,000
Less: Acc. Dep. (25,000)
Net Block 75,000
In case any doubt, feel free to contact me.
Depreciaition A/c.....Dr. 25,000
To Accumulated Dep. A/c
The depreciation expenses would be transferred to P/L Account.
on 31 March 2009, the Balance sheet would be shown as below:-
Fixed Assets
Gross Block 1,00,000
Less: Acc. Dep. (25,000)
Net Block 75,000
In case any doubt, feel free to contact me.
02 September 2009
accumulated deprecation means total deprecation charged on a particular date or at balance sheet date on a assets.
entries mentioned by Kaustuv are ok.
these entries will be passed every year and accumulated deprecation will be increased every year with the amount of deprecation charged.
entries mentioned by Kaustuv are ok.
these entries will be passed every year and accumulated deprecation will be increased every year with the amount of deprecation charged.
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