0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Fixed asset depreciation schedule?
Fixed asset depreciation schedule shows the calculation of yearly depreciation expense which is scheduled to be charged to income statement for all fixed assets and the total amount of depreciation applicable to specific income statement of business.
Why you made depreciation schedule?
First up all depreciation shedule is prepared as per statutory requirement. Secondly with reference to the depreciation shedule journal entry has to be passed by debiting the depreciation account and crediting the concerned fixed assets account.
Why depreciation is not same amount each year?
why depreciation is not same amount each year?
What is depreciation reserve fund?
Accumulated depreciation which is not shown in income and expenditure account as expenditure and the same is included in the net profit and shown separately as depreciation reserved fund while adding it in the capital fund.
Why depreciation is not the same amount each year?
the original value of the fixed assets decrease year on year ,hence the depreciation is calculated accordingly.
How to Make A Lapsing Schedule of Fixed Assets?
A lapsing schedule of fixed assets is a tool used by accountants to mark the depreciation value over time. The schedule includes original purchase cost of each asset, sales of the assets and accumulated depreciation.
Is outright expense needs to include in lapsing Schedule?
no
Is depreciation schedule required to be disclosed in the notes to financial statements?
Yes depreciation schedule is required to disclose for the better understanding for the reader of the books of accounts.
Fixed asset depreciation schedule?
Fixed asset depreciation schedule shows the calculation of yearly depreciation expense which is scheduled to be charged to income statement for all fixed assets and the total amount of depreciation applicable to specific income statement of business.
Why you made depreciation schedule?
First up all depreciation shedule is prepared as per statutory requirement. Secondly with reference to the depreciation shedule journal entry has to be passed by debiting the depreciation account and crediting the concerned fixed assets account.
Why depreciation is not same amount each year?
why depreciation is not same amount each year?
What is the different between the cost of depreciation of a asset and its related accumulated depreciation?
Cost of depreciation assets and accumulated depreciation is same as accumulated depreciaton calculates how much depreciation is charged till date while remaining is current book value of assets.
What is lapsing?
Expiring, or cancelling.
What is policy lapsing?
Expiring, or cancelling.
How is the straight line depreciation method different from declining balance method?
The straight-line depreciation method allocates the cost of an asset evenly over its useful life, while the declining balance method applies a fixed depreciation rate to the asset's declining book value each year. Straight-line method results in equal annual depreciation expenses, while declining balance method typically yields higher depreciation expenses in the early years of an asset's life.
What is a fixed asset equipment depreciation schedule?
It is the schadule to show how fixed assets will depreciate in their useful life and show all information according to useful life the depreciation expense charge to income statement and to dispose off them in the end.
Why sometime depreciation charged in income statement is not same as the increase in accumulated depreciation on balance sheet?
because whin using the composite depreciation or group depreciation method and want to sale an asets we make the cash is debt by the cash received and credit the assets by original cost and the diferrince debt accomulated depreciation , then the account of accomualted deprciation in the balance sheet will not the same as depriciation expene in the income statement
