Straight Line Method of Depreciation

1)P/L account dr.

 to depreciation ac cr....
 

2)depends....bt mostly we provide it for th whole year becoz depreciation is also dur to eflux of time n change in technology....

Originally posted by : Ashish Tibrewal
	1)P/L account dr.  to depreciation ac cr....       2)depends....bt mostly we provide it for th whole year becoz depreciation is also dur to eflux of time n change in technology....

Agree with Ashish but if in case 2 if asset is ready to use and not used till the end of the financial year the depreciation will be provided in full for 365 days.

Thanks Ashish & Kalpesh.

I have a little more doubt.

In case 2 if an asset has been purchased on 29th March and lets assume it has been put to use on the same day, should we provide depreciation for the whole year?

sushmita gd 1....bt see i used a term depends....so ths is th problm with SLM method....n i guess we hav if we can calculate th life of th asset in days thn we can provide depreciation for 2 days...

did i said nythn wrong kalpesh?