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Computers are a capital asset as they have a life period of more then a single year. For the purposes of your accountant you should decide how long you will keep the computer for to deal with it properly. Please note that it is treated different for tax purposes. I am a bookkeeper and therefore DO NOT offer tax advice. Therefore if you decide you are going to keep the computer for 4 years and it has no scrap value at the end of the 4 years and it cost £600 to start off with you would split the £600 depreciation through the 4 years and charge £150 to the depreciation account each accounting year. You would then charge an extra £150 to the credit side of the balance sheet each accounting year. Therefore in year 2 your would charge £150dr to the depreciation account and an extra £150cr to the Computers: accumalated depreciation account bringing it to a total of £300. Your balance sheet figure for this example would be the original cost minus the depreciation cost bringing the value of the capital asset to £300 (600 - 300) If you need a specific answer for your situation pelase e-mail me jonathanharker2006@Yahoo.co.uk if you need a bookkeeper please contact me. You can also contact me through my mobile: 07988136493. Hope thi helps, Jonathan
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∙ 16y ago
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