Answer Posted / manish
Tangible assets can be defined as those assets that have a
physical form such as buildings, machinery and land.
Tangible assets would also include cash, accounts
receivable, property, inventory, plant and equipment of the
firm. Tangible assets are accounted after deducting
depreciation. Tangible assets are those whose value is
dependent on particular physical characteristics. Tangible
assets are also known as real assets.
Tangible assets are different from intangible assets which
would include copyright, trademarks and goodwill of a firm.
It is also different from natural resources such as
timberland, coal deposits and oil reserves.
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
In Pricing the gallons of petrol sold,service station 'A' follows the first-in-first-out method,while service station'B'follows last-in-first-out method.On 1st January both has the same quantity in stock viz.6,000 gallons at Rs.26 per gallon.During the month,each station recieved additional supplies of 6,000 gallons at Rs.27.50 per gallon.Sales for each of these two stations,during the month,were 8,800 gallons at Rs.29 per gallon. Determine for each service station,profit earned during the month and value of the petrol in stock at close of the month.
My BASIC Salary is 18,000
cash sales and credit sales both are asset or liability?
what is cost audit?
HOW MANY ACCOUNTING STANDARDS ARE PREVAILING IN INDIA AS DECLARED BY ICAI
EXPAND_________SEB
how to entry in tally for other person check received
Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
Harpithas due Rs 55000 was settled infull by taking Haris due Rs 12500 in adjustment Pass necessary entry
How can fictitious assets be measured or valued?
ACCOUNTING CONCEPTS AND CONVENTIONS
Expand---------EDP
what is Calculation of Depreciation for 4 to 5 Years?
types of inventory
what are the new rules of central excise ?
