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What is depriciation?
depriciation: wear or tear of an asset or estimated life used of an asset
What is the Affect of accrued income in balance sheet?
Accrued income is an asset to the Organisation as It has earned the revenue but has not physically receive the funds for it by the end of financial year. It will be classed as a current asset.
Where does accrued interest on notes receivable go on a balance sheet?
Accrued interest which is to be received within 12 months is a current asset.
How is accrued income resented in the financial statement?
Accrued income is income which the company has earnd but not yet received and shown as a current asset in balance sheet.
What is the journal entry for depriciation?
Debit depreciation expenseCredit asset account
What is depriciation?
depriciation: wear or tear of an asset or estimated life used of an asset
What is the Affect of accrued income in balance sheet?
Accrued income is an asset to the Organisation as It has earned the revenue but has not physically receive the funds for it by the end of financial year. It will be classed as a current asset.
Where does accrued interest on notes receivable go on a balance sheet?
Accrued interest which is to be received within 12 months is a current asset.
What is the benefit of depriciation exp?
Reduced the velue of fixed asset
How is accrued income resented in the financial statement?
Accrued income is income which the company has earnd but not yet received and shown as a current asset in balance sheet.
How the depricion entry made in tally?
By depriciation a/c to asset a/c
What is the correct entry of depriciation?
Depreciation a/c Dr. To Asset a/c
What is the journal entry for depriciation?
Debit depreciation expenseCredit asset account
Insurance premium paid in advance Is it a accrued expenses?
No, if Insurance premium is paid in advance then it is a Prepayment - current asset.
Accrued income is asset or liability?
no
Is accrued revenue an asset?
no, its a revenue
Is depriciation a fixed cost?
Yes depreciation is a fixed cost of business which is an allocation of fixed asset cost over period of asset life.
