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The depreciation on a motor vehicle that is being used for manufacturing and administration is...

Accounts - Principles of Accounts
JAMB 2010

The depreciation on a motor vehicle that is being used for manufacturing and administration is charged to the?

  • A. debit side of manufacturing and profit and loss account
  • B. debit side of profit and loss account only
  • C. credit side of profit and loss account only
  • D. debit side of manufacturing and balance sheet
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Correct Answer: Option B
Explanation

'The profit and loss account is used by manufacturing concerns to ascertain the cost of production at various stages.  A motor vehicle used by a manufacturing company would be depreciated to the debit side of  profit and loss account 

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