A company bought machinery for Rs. 25000 and depreciation rate is 10% on SLM. Which of the following is correct?

Depreciation Account Debit 2500

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Depreciation Account Debit 25000

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Depreciation Account credit 1500

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Machinery Account Debit 1000

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Solution

The correct option is A
Depreciation Account Debit 2500

The correct entry would be

Depreciation a/c Dr 2500

To Asset a/c 2500

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A company bought machinery for Rs. 25000 and depreciation rate is 10% on SLM. Which of the following is correct?

The correct option is A Depreciation Account Debit 2500 The correct entry would be Depreciation a/c Dr 2500 To Asset a/c 2500

The correct option is A
Depreciation Account Debit 2500

The correct entry would be

Depreciation a/c Dr 2500

To Asset a/c 2500