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Depreciation entry

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 March 2012 Dear Sir,
i have to pass depreciation entry @15% ON Plant & Machinery 100000. so please explain entry & where is show in P&L & BS..
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
03 March 2012 The entry is as follows.
Depreciation a/c dr 15000
To Plant & Machinery a/c 15000


Depreciation a/c show in P&L at the time of preparing financial reports. By passing the above entry plant & Machinery value autometically decreases by the depriciation amount and reflected in the balance sheet along with the decreased figure of the plant & Machinery.
OM SAI SRI SAI JAI JAI SAI
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