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Amortization is the process of writing off intangible assets such as goodwill,patents, trademarks, license etc. The portion of goodwill(or any other intangible asset) to be amortized in a particular accounting year is treated as revenue expense and is charged to the Profit and Loss Account of that year.
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∙ 15y ago
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How can an amortization chart be produced?
An amortization chart is created from an amortization table or amortization schedule to show visually how the balance, cumulative interest, and principal change over the time.
What assets are not subject to amortization depreciation depletion?
Land is not subject to depreciation, depletion, or amortization.
Do goodwill depreciate?
No; goodwill can not be depreciated because goodwill is not considered to have a useful life.
Is depreciation and amortization a fixed cost?
no
Does amortization have a cash expense?
No amortization is done for intangible assets like depreciation for tangible assets and it also does not involve cash expense.
Is amortisation of goodwill a disallowable expense?
i don't no, but amortization of lease is disallowable expense
What is the Journal entry to write off a goodwill?
That really depends, I think more information is required to answer the question. Can you explain what happened the the asset and what kind of asset it is specifically? Yes - a loan made some years ago will not be paid back. How do I record the `loss` in the annual balance?
What is principal amortization?
It is the amortization of the principal of the loan.
How can an amortization chart be produced?
An amortization chart is created from an amortization table or amortization schedule to show visually how the balance, cumulative interest, and principal change over the time.
What is meant with amortization schedule mortgage?
Breakdown of the amortization in to Interest and Principal is called Amortization schedule. This is useful customers to know how much interest is stuffed in to an amortization. These days EMI is most popular way of amortization, where customer pays same amount throughout amortization period. With Amortization Schedule customer can know how much interest he is paying in every amortization. Find more info at www.investorwords.com/202/amortization_schedule.html
What is the entry for amortization?
Debit amortization expensesCredit intangible assets
What is substitute word for amortization in English?
There is none. "Amortization" is a very specific term that relates to: A) The application of the cost of an intangible asset over time (akin to depreciation for a fixed asset or physical asset). A good example of intangible assets would be Goodwill or Patents. B) The application of interest to a loan balance. The most common example in this case is an "Amortization Schedule" which you can use to predict / estimate a loan balance at a certain point in time, given that the assumptions and facts are correct. IE payments were made on time, for the proper amounts, etc.
How do I use an amortization calculator?
Amortization calculators calculate your mortgage rate. The best site to go to to figure out these rates would be amortization-calc.
What is the journal entry for amortization?
Debit amortization expensesCredit intangible assets
Where can I find a amortization mortgage calculator?
There are lots of websites online where you will find amortization mortgage calculators. A couple I recommend are www.hsh.com Calculators and bretwhissel.net/amortization/.
What is the amortization of my mortgage?
Amortization simply refers to the length of your mortgage. You can use a calculator from any reputable financial website to calculate the amortization rate on your loan.
How do I use an amortization schedule mortgage ?
You can find information on how to use an amortization schedule calculator on the following website...www.bankrate.com/calculators/mortgages/amortization-calculator.aspx
