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Question

Rs. 10000 depreciation transfer to Profit and Loss account. Which of the following is correct?


A

Depreciation Account Debit 1000

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B

Depreciation Account Debit 10000

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C

Depreciation Account credit 1000

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D

Profit & loss Account Debit 10000

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Solution

The correct option is D

Profit & loss Account Debit 10000


The correct entry would be

Profit & loss a/c Dr 10000
To Depreciation a/c 10000

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