whats nature Provision for Depreciation a/c :
(a) REal a/c (b) Nominal (c) Personal a/c
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
CAclubindia
