how do you charge Depreciation in p&l,(what basis and
value?)
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Answer / sarata kumar swain(godhan,kend
DEPRICIATION IS THE REDUCING VALUE OF ASSET IN A FINACIAL
YEAR SO FIRSTLY CALCULATED THE AMOUNT OF DEPRICIATION IN
FIXED OR DIMINISHING BALANCE METHORD FROM THE W.D.V OF
ASSET AND THE AMOUNT OF DEPRICIATION AMOUNT ISTO BE TAKEN
IN THE DEBIT SIDE OF P/L ACCOUNT AND THE SAME AMOUNT IS TO
BE DEDUCTED FROM THE OPENING W.D.V AND THAT THE CALCUTED
AMOUNT IS THE CLOSSING W.D.V OF ASSET AND FINALLY THE
CLOSSING W.D.V TAKEN IN TO BALANCE SHEET ASSET SIDE AS THE
CURRENT VALUE OF ASSET FOR THE PURPOSE OF FINALISING OF
ACCOUNT AND THE DEPRICIATION OF NEXT YEAR IS TO BE
CALCULATED FROM THE CLOSSING W.D.V OF ASSET.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / chaitanya
The written down value of plant or a machinery is known as
depreciation.The depreciation will be accounted into books
by taking in on debit side of profit and loss account.The
same amount of depreciation will also be deducted from the
astet a/c in balance sheet.The big firms will also be
maintaining seperate depreciation heads for its future
mobilisation of money from its reserves.
| Is This Answer Correct ? | 2 Yes | 0 No |
What is outsider equity and time interest period ratio?
A company maintains a margin of safety of 25% on its current sales and earns a profit of Rs. 30 lakhs per annum. If the company has a profit volume (P/V) ratio of 40%, its current sales amount to A. Rs. 200 lakhs; B. Rs. 300 lakhs; C. Rs. 325 lakhs; D. None of the above.
HI ALL PLS EXPLAIN IN BRIEF ABOUT DEBIT& CREDIT& ALSO GIVE EXAMPLES FOR PERSONAL a/c,REAL a/c,NOMINAL a/c?
outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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Hi friends, can you please send me GENPACT's Accounts Test Questions. Thanks in advance.
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.
Audit 
