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Journal & Ledger for Recording Depreciation

Depreciation ...

Question

Depreciation provision on fixed assets is journalized in__________.

A

general journal

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B

fixed assets journal

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C

profit and loss account

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D

any of the above

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Solution

The correct option is A general journal
All adjustment entries are passed thorough general journal. Other than cash, credit sales and credit purchase all transaction are to be recorded in general journal.

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Select the correct answer using the codes given:

Depreciation on fixed assets is _________.

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