In regards to entering in NCA after depreciation

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October 4, 2020 at 2:30 pm #587338
wolfwalker
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Can we put the cost value given in trial balance in the NCA part of SFP for the year and charge depreciation charges of those assets to an accumulated depriciation account in the liabilities part of SFP?
October 11, 2020 at 8:05 am #588559
P2-D2
Keymaster
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Hi,

No, we are never allowed to do this. The accumulated depreciation is always netted off the cost in the non-current assets.

Thanks
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