To which account an amount of depreciation is transferred at the end o – InterviewSolution

1.	To which account an amount of depreciation is transferred at the end of accounting year?
Answer» At the end of every accounting year, the amount of depreciation is transferred to Profit and Loss A/c.

Discussion

No Comment Found

Related InterviewSolutions

To which of the following depreciation is applicable?(a) Capital(b) Sales(c) Liabilities(d) None of these
Depreciation depends on which of the following factors?(a) Business(b) Time(c) Capital(d) Debts
Which three points should be kept in mind while calculating depreciation according to straight-line method?
Under which method the annual amount of depreciation remains identical?(a) Straight-line method(b) Reducing balance method(c) Revaluation method(d) Mileage method.
Under which method annual amount of depreciation reduces every year?
Write a short note :Equal instalment method
What are depreciable assets? Give its explanation and list out depreciable assets.
Depreciation is ……………………. related expense.(a) value(b) capital(c) time(d) income
What is the other name of Reducing Balance Method?(a) Written off value method(b) Written down value method(c) Written up value method(d) Written fall value method
Out of the following, which asset is not a depreciable asset?(a) Building(b) Land(c) Mines(d) Gas wells