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Does depreciation is charged on intangible assets?
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
Is depreciation charged on current assets or not when tax payer is individual?
Depreciation is always charged on fixed assets and it does not has any relation with individual or company status.
Is depreciation charged on current assets or not?
No
How do you double entry on depreciation?
DR. DEPRECIATION EXPENSE X CR. ASSET X At the end of the year Depreciation is charged to the Income Statement.
The balance of accumulated depreciation account represents the?
amount charged to depreciation expense since the acquisition of the plant asset.
Can depreciation charged at building?
Building is an asset for business and depreciation is only charged to assets of business so in this way depreciation is charged to building as well.
Does depreciation is charged on intangible assets?
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
Is it correct to include depreciation of disposed of asset in income statement?
Depreciation of any asset is charged to income statement till the actual date of disposal of asset and after that date depreciation is not charged to income statement.
Is depreciation charged on current assets or not?
No
Is depreciation charged on current assets or not when tax payer is individual?
Depreciation is always charged on fixed assets and it does not has any relation with individual or company status.
Is depreciation a product dost?
Depreciation is a period cost and not a product cost as depreciation is still charged even if there is no production or sale of goods.
How do you double entry on depreciation?
DR. DEPRECIATION EXPENSE X CR. ASSET X At the end of the year Depreciation is charged to the Income Statement.
What is the different between the cost of depreciation of a asset and its related accumulated depreciation?
Cost of depreciation assets and accumulated depreciation is same as accumulated depreciaton calculates how much depreciation is charged till date while remaining is current book value of assets.
Which is the only assets which doesn't charge depreciation?
Land is not subject to depreciation because value of land doesnot depreciate rather appreciate and nobody knows the exact disposal time of land.
The balance of accumulated depreciation account represents the?
amount charged to depreciation expense since the acquisition of the plant asset.
Depreciation rate for mobile phone under income tax act?
Depreciation on Mobile Phone will be charged @ 15%.
When depreciating fixed assetthe land is not depreciated?
Depreciation is always charged on the depreciable assets only.... books and teachers are teaching wrong actually.. that.. depreciation is charged on fixed assets.... but it is not true....Depreciation is always charged on fixed tangible assets which are depreciable...Assets which decrease their value because of their use, accident etc..for example, plant, machinery, motor vehicles etc...Clear all your accountancy doubts... use... "ULTIMATE BOOK OF ACCOUNTANCY"published by vishvas publications
