What is Accumulated Depreciation ?
This query is : Resolved
20 November 2019
Hi,
What is Accumulated Depreciation ? When to calculate.
What is Accumulated Depreciation ? When to calculate.
Gokul Sharma
(Expert)
20 November 2019
it is the total depreciation calculated combining of each years.
original assets cost- accumulated depreciation = wdv of asset
original assets cost- accumulated depreciation = wdv of asset
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20 November 2019
The depreciation work sheet will have three major heads.
1. Original cost : The cost at which asset is purchased to be shown in this head. The assets to be classified as land , Buildings, plant and machinery, Furniture and Fitting , Electric instillation and Intangible assets
2. Accumulated depreciation : It means the depreciation charged from the date of purchase till date against each asset.
3. Written down value : This means the book value of the asset as on date . That is original cost less accumulated depreciation as on date
1. Original cost : The cost at which asset is purchased to be shown in this head. The assets to be classified as land , Buildings, plant and machinery, Furniture and Fitting , Electric instillation and Intangible assets
2. Accumulated depreciation : It means the depreciation charged from the date of purchase till date against each asset.
3. Written down value : This means the book value of the asset as on date . That is original cost less accumulated depreciation as on date
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20 November 2019
In small traders balance sheet there is no accumulated depreciation, most of the CA's / Professional pass entry Eg. Depri ac Dr to Asset ac Cr.
is it also ok.
is it also ok.
20 November 2019
Then for working out accumulated depreciation, the amount charged as depreciation is to be taken as accumulated depreciation
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Gokul Sharma
(Expert)
23 November 2019
yes it also right ................this is just way of presentation
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