Answer Posted / kolluru venkatesh

We calculate the depreciation on fixed assets of the company due to using in day to day activities and it will treated as Revenue expenditure,

The main object of calculate depreciation on the assets is to know the face value of asset on the particular day to sale or to know the company position by preparing balance sheet

I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary

1849

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Tell me the types of accounts involved in double entry book-keeping?

1110

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Tell me how you can adjust entries into account?

1036

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What is the definition of manual accounting?

1189

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The claim recoverable has been settled with the insurance company for 2000.what is the actual stock lost value? Please give me in calculation.

1627

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Tell me where do generally accruals appear on the balance sheet?

976

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Explain me the basic accounting equation?

1052

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You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically

1555

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sir i want know how to fill vat return

2078

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Is buy or sale trade will impact on Nov? Yes/No Please explain.

1906

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Cash bill of sale so the company can deduct the amount.

2050

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Mention what are the rules for debit and credit for different accounts to increase the amount in your business accounts?

1092

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what is bank aceleted?

2098

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How do you classify errors in accounting?

1179

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whether sale and purhases of cf agent are his and he is liablte to pay VAT on sale of goods and pay the tax to govt collected by him one more being receiving commission of saleproceed during the year whose stock would be it it is of c f agent or principal manufctrurer who has send the goods to sold on his behalf

1877

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