depreciation

Suresh Pai S (Tax Consultant) (1029 Points)

08 March 2017

What is the journal entry when a depreciation method is changed and there is excess depreciation?

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ankita gandhi (student) (5908 Points)
Replied 09 March 2017

if u need to charge more depreciation then
depreciation a/c ... dr
to fixed asset
then
profit and loss a/c
to depreciation

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Suresh Pai S (Tax Consultant) (1029 Points)
Replied 09 March 2017

No I meant the other side of the fence

ankita gandhi (student) (5908 Points)
Replied 09 March 2017

I didn't understand u

Suresh Pai S (Tax Consultant) (1029 Points)
Replied 10 March 2017

I meant that excess depreciation has been charged already..

ankita gandhi (student) (5908 Points)
Replied 10 March 2017

so now u want to increase the value of asset ?

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ankita gandhi (student) (5908 Points)
Replied 10 March 2017

If u have to increas value of asset then,
Fixed asset a/c ... dr excess dep
to depreciation
and then
depreciation
to pnl

1 Like

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