I want to know about treatment for accumulated depreciation
and entry for that
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Accumulated depreciation
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Depreciation A/c Dr.------------------ t/f to P&L A/c
Accumulated depreciation A/c Cr.--- t/f To B/S
Accumulated depreciation is shown separately as deduction from Gross Block of Fixed Assets, as follows:
Fixed Assets(Gross Block)-----XXX
less: Accumulated depreciation XXX
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