Provision for depreciation on delivery van is charged to

Provision for depreciation on delivery van is charged to the Profit and Loss account. Depreciation is the allocation of the cost of a fixed asset over its useful life. It is treated as an expense in the Profit and Loss account since it reduces the value of the asset over time. As the delivery van is a fixed asset, its depreciation is charged to the Profit and Loss account, which is an account that shows the company's net profit or loss over a period of time.