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discuss depreciation and types of depreciation
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Answer / guest
depreciation mean a reduce value in assets there are two
types of depreciation one of theme fixed instalment method
and second is reducing balancing method
| Is This Answer Correct ? | 19 Yes | 4 No |
Answer / vishwanath k
Depreciation means Declining the value of the Fixed Assets
year by year
Imp Note :Land will not come under Depreciation even though
its fixed assets cuz its value wont decrease usually it
will increase
ex:SraightLine method,Declining balance method,Sum-of-the-
years'-digits method
| Is This Answer Correct ? | 3 Yes | 1 No |
what is t code of all expences general legder?
Journalize the Following: 2. Monthly credit sales were $ 35,000 3. Received Cash receipt payments on Receivables in the amount of $ 10,000. 4. Customers’ cheque in the amount of $ 100 bounces and was re-deposited. Book both entries. 5. Material is bought on account for £ 100,000. The exchange rate is Four pounds to One Dollar. Then, later, merchandize is paid for. The exchange rate is Five pounds to One Dollar. Book both entries in Dollar when merchandize is bought and when it was paid. 6. Materials worth $ 20,000 was purchased on account and paid for with 1% discount. Book both entries. 7. Record the purchase of Direct Material on Account in the amount of $ 20,000. Half of it was for stock and the other half for a specific job order. 8. Record the disbursement of $ 1,000 raw material to shop floor for use on specific job
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