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You need to reverse the entries for excess depreciation - Debit Accumulated Dereciation and Credit Depreciation Expense
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What is the accounting treatment of brand value?
It comes under Assets as an Invisible asset.
Define the three components of the accounting equation?
The accounting equation is as follows: ASSETS = LIABILITIES + EQUITY
What does the Accounting Equation in accounting?
The Accounting Equation is Assets=Liabilities + Owner's Equity?
What is the accounting equation and how does it work?
The accounting equation displays the relationship between capital, liabilities and the assets. The accounting equation shows that the assets are a sum of the liabilities and the invested capital.
What has the author Shauna Doyle written?
Shauna Doyle has written: 'An analysis of the accounting treatment adopted by english premiership football clubs in regard to their intangible assets, the players'
What is an overview of accounting?
Accounting is the study of finical transactions. Accounting basic equation is Assets= Liabilities + Owner's Equity.
Example of accounting equation?
The accounting equation is as follows: Assets = Liabilities + Stockholder's Equity
What is the fandamental accounting equation?
The fundamental accounting equation: Assets = Liabilities + Equity, is the basis for all financial accounting measurements.
Accounting treatment for surplus of revaluation of fixed assets?
a revaluation increase is credited to equity as a revaluation surplus, unless it's a reversal of a revaluation decrease, when it should be recognised as income.
Definition of accounting equation?
Assets = Liabilities + Equity
What is equality of the accounting equation?
Equality on the accounting equation is that Assets equal liabilities + owner's equity
What is the effect on accounting equation if assets increases?
accounting equation assets = liabilities + capital so if assets increases either liability or capital will increase for this purpose 1. assets means both long term assets and short term assets 2. capital means owners equity 3. liability means outsliders liability
