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Can any explain why 'provision of depreciation' for furniture was written in credit side of trial balance rather than in debit side .
sai t
CA Foundation
★ 2K+
05-Dec-19 18:16
681
Answers (3)
Provisions are on credit side Depreciation expense will be on debit side
IndigoLearn Admin
CA Inter
★ 110
06-Dec-19 10:44
Provision is a liability and so it is on credit side. Depreciation is an expense , so it is on debit side
Tharun Reddy
★ 60
07-Dec-19 10:22
Tnq
Chinna Sai
★ 7K+
26-Apr-20 16:45