Depreciation entry
This query is : Resolved
14 July 2014
Hello Everyone,
Machinery purchased for Rs. 3 lacs. Depreciation 12 percent on WDV method?What would be the journal entry for depreciation.
Machinery purchased for Rs. 3 lacs. Depreciation 12 percent on WDV method?What would be the journal entry for depreciation.
14 July 2014
Depn Dr 36K
To Machinery 36K
(Being Depn. for the year provided)
To Machinery 36K
(Being Depn. for the year provided)
14 July 2014
thanks Sandeep for quick response!
14 July 2014
Welcome Chirag.
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15 July 2014
if you maintaining reserve account then you can pass below entry
Depreciation ac Dr
To Accumulated depreciation ac
Depreciation ac Dr
To Accumulated depreciation ac
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