📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Depreciation is appearing in the 'Trial Balance' of a

      firm. At the time of preparing 'Annual Accounts', it should be shown in:
      A Profit & Loss Account Correct Answer Incorrect Answer
      B Profit & Loss Account or Balance Sheet Correct Answer Incorrect Answer
      C Balance Sheet Correct Answer Incorrect Answer
      D Profit & Loss Account and Balance Sheet Correct Answer Incorrect Answer

      Solution

      Depreciation is present in Trial balance this means already a journal has been passed related to depreciation and has been posted in ledger. Now depreciation being a nominal account needs to be transferred to P&L account. 

      Practice Next
      More Accounts Questions

      Relevant for Exams:

      ask-question