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the expired cost of fixed plant assets such as land, building, equipment, furniture and fixtures and automobile etc.., after a year is known as depreciation.
it means that if you depreciate the value of any fixed assets you will be able to estimate its life for the future use..it can help you to estimate the total revenue earned by using that assets.
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∙ 12y ago
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What are the reasons for charging depreciation on non current assets?
depreciation non current asseate
Is depreciation tax deductible?
Not, depreciation is not deductible for tax purpose. Because it is not wholly exclusively in production
What is the purpose of a reserve for depreciation and depletion?
To preserve the corpus for the remainder beneficiaries
What is provision for depreciation and how do you treat it in accounts?
A provision of depreciation account is different than other accounts because it collects all of the value of depreciation within the account. In the main asset account, depreciation is not credited because it is credited into this account.
Depreciation is a very important economic problem and needs to be used in accounting for what purpose?
all of these
What are the reasons for charging depreciation on non current assets?
depreciation non current asseate
Is depreciation tax deductible?
Not, depreciation is not deductible for tax purpose. Because it is not wholly exclusively in production
Worth of fixed asset after depreciation?
definitely the worth of a fixed asset decreases after charging depreciation on it, because the efficiency of the fixed asset decreases with the every next financial year.
Is homeowners depreciation check's purpose to cover repairs?
No. depreciation is compensation for a loss of value. You can make repairs or do whatever you choose with it.
What is the purpose of depreciation expense and accumulated depreciation?
Depreciation expense reduce the cost of asset through income statement for the useful life of asset and accumulated depreciation account is contra account for asset account in balance sheet to show the total amount of depreciation charged.
What is the purpose of charging different groups of customers different prices?
The purpose of charging different customers different prices is to meet their demand elasticities.
What is the purpose of a reserve for depreciation or depletion?
to preserve the corpus for the remainder beneficiaries
What is the purpose of a reserve for depreciation and depletion?
To preserve the corpus for the remainder beneficiaries
What is provision for depreciation and how do you treat it in accounts?
A provision of depreciation account is different than other accounts because it collects all of the value of depreciation within the account. In the main asset account, depreciation is not credited because it is credited into this account.
Which of the three main methods of charging an object involves no touching?
Charging by induction.
Depreciation is a very important economic problem and needs to be used in accounting for what purpose?
all of these
When would a company consider using accelerated depreciation?
There are many reasons that a company may consider using accelerated depreciation. The main reason being that by using accelerated depreciation, this would decrease their tax payments.
