How should depreciation recorded in the Trial Balance be treated in the financial statements?

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Charged as an expense in the Profit and Loss AccountPresented as a liability on the Balance SheetSubtracted from the related asset's value on the Balance SheetBoth charged to Profit and Loss Account and deducted from the asset on the Balance SheetNone of the above

Explanation

When depreciation appears in the Trial Balance, it is typically charged as an expense in the Profit and Loss Account. However, if depreciation is provided as an adjustment, it has a dual effect: it must be debited to the Profit and Loss Account and also deducted from the gross value of the fixed asset in the Balance Sheet.