No
yes
Depreciation is always charged on fixed assets and it does not has any relation with individual or company status.
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
depreciation non current asseate
current assets are not depreciated because depreciation process is use to allocate long term asset cost to specific fiscal year in which it used if fixed assets also fully used in one fiscal year then there is no need of depreciation as well.
In sum of year digit depreciation method depreciation is charged based on total number of years fixed assets is usable in business instead of using any percentage or fixed amount of depreciation.
Depreciation is always charged on fixed assets and it does not has any relation with individual or company status.
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.
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
Building is an asset for business and depreciation is only charged to assets of business so in this way depreciation is charged to building as well.
Depreciation is the method of allocating the amount of fixed asset to the fiscal year in which that asset utilized and it is only applicable to fixed assets because current assets are fully utilizable in current year that's why full amount of current assets are charged to income statement.
depreciation non current asseate
Non current assets decrease with depreciation which is due to wear and tear due to usage of that assets in revenue generation.
Depreciation is always charged on the depreciable assets only.... books and teachers are teaching wrong actually.. that.. depreciation is charged on fixed assets.... but it is not true....Depreciation is always charged on fixed tangible assets which are depreciable...Assets which decrease their value because of their use, accident etc..for example, plant, machinery, motor vehicles etc...Clear all your accountancy doubts... use... "ULTIMATE BOOK OF ACCOUNTANCY"published by vishvas publications
Depreciation on Fixed Asset (Furniture, Building) are considered as Non-Current Assets
current assets are not depreciated because depreciation process is use to allocate long term asset cost to specific fiscal year in which it used if fixed assets also fully used in one fiscal year then there is no need of depreciation as well.
In sum of year digit depreciation method depreciation is charged based on total number of years fixed assets is usable in business instead of using any percentage or fixed amount of depreciation.
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.