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Mr Vinod kumar you r doing a great work!!!!!!!!
ReplyDeleteA great website for accounting information
Mr. Vinod Kumar i have never found such a great teacher like you. You have done such a great work that nobody can make you good. We all appreciate you and congratulate you on your brilliant success of providing free accounting education worldwide.
ReplyDeleteRegards,
Abeera
Original cost of asset will equal to the total amount of provision of depreciation which we accumulate in provision for depreciation account..here original cost means ...which cost..yhe cost at which asset was origioriginally purchased or current value of asset???
ReplyDeleteGood morning sir, if I have provision for depreciation on equipment 3000 on the credit side of trial balance, then 20000 on equipment (cost) and additional information says depreciation should be 20%
ReplyDeleteHow do I treat it in profit and loss