Depreciation in company

Current year in profit and loss and balance sheet. Accumulated in balance sheet. 

Bs asset value= asset carrying amount-accumulated depreciation-impairment. 

In profit and loss account , we show current year depreciation , if any accumulated depreciation of previous years will be shown in Liability side in balance sheet .
Also we reduce the value of Asset by charging depreciation .

entry will be
Depreciation A/c Dr
To Asset A,/c Cr
( Depreciation charged )

Current year depreciation

Current year depreciation