whats nature Provision for Depreciation a/c :
(a) REal a/c (b) Nominal (c) Personal a/c
1 Replies
CA Bharat kumar
(Practice)
(622 Points)
Replied 04 March 2013
Three golden rules of accounting are
Real A/c:
Dr - What comes in
Cr - What goes
Nominal A/C:
Dr - all Expenses
Cr - All Incomes
Personal A/C:
Dr - the receiver
Cr - the giver
In your case Depreciation is a nominal account
Recent Topics
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
Related Threads
CAclubindia
