surya shekhar (2 Points)
23 April 2021Dear all, kindly guide me how to book depriciation entry of FA purchased from donor funding. For example :- 1) FA account dr. Bank cr. 2) depriciation ac Dr. FA account cr. 3) Capital fund ac Dr. FA fund (capital Account).
Now, problem in there that if I dr. FA fund ac then which account should be credited. For correct entry.
Kindly let me know your suggestion
prasad Nilugal
(3914 Points)
Replied 24 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 April 2021
sabyasachi mukherjee
(27579 Points)
Replied 24 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 April 2021
sabyasachi mukherjee
(27579 Points)
Replied 24 April 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 April 2021
sabyasachi mukherjee
(27579 Points)
Replied 25 April 2021
Provide for depreciation. You cannot book any expense unless it is provided for.
First know the basics.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 25 April 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 25 April 2021
@ Saurav hi, I was shocked but it is the truth. I dont rememberer learning provision for depreciation. It is completely AS where an actual provision is created. I’m surprised as well because, I haven’t seen Provision for it in my financial statement analysis nor IndAS/ IFRS Reporting books and slightly got misguided. I started writing here to someone saying there is No provision for depreciation and finally I got this concept here. It’s easy: https://www.tallyschool.com/depreciation-entry-in-tally/
CAclubindia
