JOURNAL ENTRIES FOR DEPRECIATION
Depreciation: Depreciation is the permanent, continuing and gradual diminution, shrinkage or fall in the book value of a fixed asset due to various reasons such as wear and tear, passing of time, obsolescence and so on.
Date Particulars LF Dr. Rs. Cr. Rs.
Depreciation A/c … Dr.
To Assets A/c
Profit and Loss Account … Dr.
To Depreciation A/c
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