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kavita purchased machinery of rs 5 lak on 1 jan 2007 she also paid instullation charged rs 5o thousand, she sold the machinary 2011 rs 4 lack depreciation is charged at 10 % on 31 dec pass the necessary journal entry under original cost method.
why should we add indirect taxes and depreciation?
How should depreciation be handled in a non profit budget?
Provision of depreciation account is the account of provision of depreciation.First of all we should understand provision of depreciation .Provision of depreciation is the collected value of all depreciation. With making of this account we are not credited depreciation in asset account. But transfer every year depreciation to provision of depreciation account. Every year we adopt this procedure and when assets are sold we will transfer sold assets 'total depreciation to credit side of asset account. For calculating correct profit or loss on fixed asset. This provision uses with any method of calculating depreciation.
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.
Depreciation is a portion of fixed asset charged to income statement due to wear and tear of assets during use in business in fiscal year that's why that wear and tear is accounted for by using depreciation.
kavita purchased machinery of rs 5 lak on 1 jan 2007 she also paid instullation charged rs 5o thousand, she sold the machinary 2011 rs 4 lack depreciation is charged at 10 % on 31 dec pass the necessary journal entry under original cost method.
Depreciation is an expense. It should be charged under expense of a P&L Statement. Provision for Depreciation is the total depreciation of a particular fixed asset accumulated over the years. It should be deducted from the figure of the Fixed asset.
When working out you should increase the weight you use gradually as you progress with your workout.
basic matching concept of account is that all expenses of same fiscal years should be matched with revenues of that fiscal year and depreciation is also charged for that portion of asset which is used in specific fiscal year.
why should we add indirect taxes and depreciation?
The accumulated deprecation is the all the depreciation amounts should be the accumulated depreciation.
How should depreciation be handled in a non profit budget?
A typical automotive ac system in good working order doesn't need to be "reset". It should operate once it has been charged. Something else may be wrong if it is not working.
Provision of depreciation account is the account of provision of depreciation.First of all we should understand provision of depreciation .Provision of depreciation is the collected value of all depreciation. With making of this account we are not credited depreciation in asset account. But transfer every year depreciation to provision of depreciation account. Every year we adopt this procedure and when assets are sold we will transfer sold assets 'total depreciation to credit side of asset account. For calculating correct profit or loss on fixed asset. This provision uses with any method of calculating depreciation.
no
No! the asset revaluation reserve equal to the amount of depreciation charged during the year on the revalued asset should to be transaferred to the Retained Earning.