When an extraordinary repair is made to an asset, why do you debit accumulated depreciation? Wouldn’t it be easier to simply debit the asset account? After all, the value of the asset has just increased due to the repair.
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Extraordinary repairs & Accumulated depreciation
Replies (2)
Quick Summary
Yes it shud be debited to the asset account and then at year end proportional depreciation shud be transferred to accumulated depreciation.
No there is a treatment of debiting such extraordinary repairs to accumulated depreciation.
i need to know the reason for the same
i need to know the reason for the same
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