Depreciation A/c appearing in the trial balance will ___________.

be debited to profit loss A/c only

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be debited to profit and loss A/c and deducted from the concerned Fixed assets in the Balance sheet

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be credited to profit and loss A/c

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shown on Liability side of the balance sheet

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Solution

The correct option is A be debited to profit loss A/c only
depreciation is charged on fixed assets. it is deducted from the concerned fixed assets in the balance sheet then will be debited to the profit and loss account.'

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Similar questions

State whether the following statement are true or false.

1. Final Accounts are prepared on the basis of Trial Balance.
2. Trading Account is a part of Profit & Loss Account.
3. Profit Loss Account is prepared to find out Gross Profit or Gross Loss.
4. Gross Profit or Gross Loss is transferred to Balance Sheet.
5. An amount of net profit is added to the capital.
6. All indirect expenses are debited to trading account.
7. Balance Sheet is a statement and not an account.
8. Capital account is a personal account.
9. Amount of prepaid expenses appears on assets side.
10. Bank Overdraft is a liability of business concern.

Accrued income is credited to the profit and loss account and shown in the balance sheet as a current asset. Why?

Debit balance in the profit and loss account is a profit. Comment.

A Statement of Affairs is similar to the :

(a) Balance sheet
(b) Trial balance
(c) Trading Account
(d) Profit & Loss Account

Q. Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R).

Assertion (A) - Any reserves or accumulated profits/losses appearing in the balance sheet should be transferred to the partner’s capital accounts in an old ratio.

Reason (R) - Accumulated profits/losses appear in the balance sheet after a change in profit-sharing ratio.

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Depreciation A/c appearing in the trial balance will ___________.

The correct option is A be debited to profit loss A/c onlydepreciation is charged on fixed assets. it is deducted from the concerned fixed assets in the balance sheet then will be debited to the profit and loss account.'

The correct option is A be debited to profit loss A/c only
depreciation is charged on fixed assets. it is deducted from the concerned fixed assets in the balance sheet then will be debited to the profit and loss account.'