Answer / ameet narayankhedkar

Depreciation refers to two very different but related concepts:

1. the decrease in value of assets (fair value
depreciation), and
2. the allocation of the cost of assets to periods in
which the assets are used (depreciation with the matching
principle).
The former affects values of businesses and entities. The
latter affects net income.

The depreciation will be calculated from the date of
purchase of an asset.

A is vendor of B. B owes him 50000/-. A asked B to conduct an event on his behalf and the expenses incurred by B was 25000/-. A issued a credit note in favour of B in full , stating that TDS done @10% on 25000/-. Now , B has to settle A's balance. 1.Entries in the books of B 2.How much B repaid to A for settlement and the Entry in his books.

5 Answers   CTPL,

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I need to know when you buy a asset on credit and your monthly instalment is $10000 in the books where and how do you record the outstanding liability the interest and the capital instalments.Secondly the deposit that you receive which you should still send back to the tenat where in the books do you record for entry and the contra entry.

1 Answers  

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if any otion in tallyerp9 version about doing Luxury tax work

0 Answers  

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How do I pass entries towards advance paid to program ependiture. ex: Rs.20000 advance paid to Program officer. and he come back with program expenses venue Rs.1000, food expenses Rs.10000 and travel Rs.4000 and accommodation Rs.6000. Kindly give me the answer that how do I pass the entries and how should I adjust advance.

3 Answers   Communication for Development and Learning,

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mr.atul purchased a dress for his son amounting to rs 725/- from dress point by paying cash from the office. We entered in this trasaction to which voucher?

7 Answers  

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9. Fixed Cost assumed to be $ 2,700. Variable Cost is $ 70 per unit. Selling Price is $ 100 per unit. What would be the Breakeven Point in Units?

1 Answers  

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What is Calculate Balanced Owned

0 Answers   Accenture,

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why accounting is important in business?

0 Answers  

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Dear sir Per Day Maximum Cash payment for Limited company in India

1 Answers  

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Here is a question i was asked below is the scenario need to enter journal entrries for both accounting system Cash and Accrual :- 1) Landlord A/c 2) Tenant A/c 3) Bills Receivable A/c 4) Cash A/c 5) Bank A/c Situation:- 1) Bill is created. 2) Bill is sen to the tenant, journal entry =? 3) Cash is received from the tenant, journal entry=? 4) Receipt is created. 5) Receipt is sent to the tenat, journal entry=? Its urgent, please help.

2 Answers  

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Increase in one equity with no change in the asset will result in .................... of another equity

1 Answers  

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stock lost by fire of rs-230 and insurance company denied to give insurance claim,journal entry

2 Answers   TATA,

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