[ivory5130]

When journalizing after a company just purchases a piece of machinery, do you use accumulated depreciation or something else?:confused:

[bhet]

You always use accumulated depreciation account to allocte the cost of your machinery.

[maheshwari]

When journalizing after a company just purchases a piece of machinery, do you use accumulated depreciation or something else?:confused:

Yes as per accounting standard - 6 (Depreciation) it is complusory to provide Dep. while the case of accumulated dep. Depends and differs from company to company