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After an asset is fully depreciated, the assets and accumulated depreciation accounts are zerod together in the beginning of the next accounting period. When an asset is fully depreciated but still operates in the company, Accountants usually leave the asset and its accumulated depreciation accounts in the records even after it's fully depreciated and even through next periods, just to show that this asset still exists and operates.

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If your income is less than 5000 a year how much will you pay in taxes?

For 2009, if you're Single with no dependents and income of less than $5,000, then you're not required to file. You'd be required to file if your income were at least $9,350. If income tax were withheld from you earnings in 2009, then you should file for a refund of all federal income tax withheld. Your income is zeroed out by your standard deduction of $5,700 plus your personal exemption of $3,650.


Can a sold credit card account be collected on if the account is reported as charged off with a zero balance?

It may be zeroed out w/ the orig company because they sold it to the collection people. DO NOT PAY COLLECTION AGENCIES ANYTHING!! google "fair credit act". lots of info


On tax form what do you pay on 5000.00?

Generally, Single under age 65 isn't required to file a tax return for earned income under $9,350 for 2009. A Single/Married Filing Jointly dependent generally isn't required to file for earned income under $5,700. The standard deduction for Single for 2009 is $5,700. Your income is zeroed out by your standard deduction. So you owe no taxes. Although you're not required to file, you should file in certain situations. One, you should file for a refund of any withheld tax. Two, you should file if you're eligible for certain credits (such as earned income, making work pay, etc.).


What account to which revenue and expenses are closed is called?

The account to which revenue and expenses are closed at the end of an accounting period is called the "Retained Earnings" account. This process is part of the closing entries in the accounting cycle, where temporary accounts (revenues and expenses) are zeroed out and their balances are transferred to Retained Earnings, reflecting the net income or loss for the period. This helps in maintaining an accurate record of the company's equity over time.


Related Questions

When was Zeroed Out created?

Zeroed Out was created on 1997-05-20.


What is the past tense of zeroed?

Zeroed is the past tense and past participle of the verb zero.


What does 'zeroed funding' mean?

I believe 'zeroed funding' means that promised/requested funding is taken away.


How do you adjust the timing on a 1999 dodge Dakota sport 3.9 magnum?

It is not "adjusted". It is zeroed or synced with a scan tool.It is not "adjusted". It is zeroed or synced with a scan tool.


Can you set the timing on a 1999 Dodge Dakota?

It is not "timed", the distributor is zeroed or synced to the crank with a scan tool.It is not "timed", the distributor is zeroed or synced to the crank with a scan tool.


How did the student get the answer ten minus ten?

She zeroed in on it!


What device must always be zeroed out before egin to use it before measurement?

A scale or balance should always be zeroed out before using it to ensure accurate measurements. This process removes any potential errors or biases that may affect the measurement results.


When you buy a scope is it already zeroed in?

If you just put a new scope on your gun it will not be zeroed in. you can get your local gun shop to zero it in or you can just shoot at a target and adjust it accordingly.


If the triple beam balance is not zeroed what happens?

You get inaccurate measurements.


How much will a 243 drop at 300 yards?

Depends on the loading, and the zeroed range. An 80 grain bullet zeroed at 100 yards will be about 10.2 inches below the line of sight at 300.


How much Will a 243 bullet drop at 300 yards?

Depends on the loading, and the zeroed range. An 80 grain bullet zeroed at 100 yards will be about 10.2 inches below the line of sight at 300.


Should I contact creditors when parent dies?

I did when my father recently passed away. Many of them asked me to fax a copy of his death certificate and in some cases, they zeroed his balance owed.