Answer Posted / sanmilan
All Assets have a Life Span. The capacity or productivity of
any particular asset need not be same as initial years after
using the same for 5 years. So cost of acquiring an asset is
spread over the estimated life of the assets. This is called
Depreciation.
Straight Line Method, Written Down method, Declining method
Sum-of the Years’ digit Method are the Deprecation Methods.
Most commonly used are Straight Line & WDV Methods.
| Is This Answer Correct ? | 8 Yes | 0 No |
Post New Answer View All Answers
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
What is the basic accounting equation?
SHADOW BALANCE SHEET
sIR, DEAR SIR, WE ARE PREPARING EXPORT INVOICES AT THE TIME OF INVOICE PREPARATION WE MENTIONED EXCISE, EDN CESS AND SH EDN CESS AMOUNT ALSO IS IT CORRECT ARE NOT BUT I THINK WHEN MATERIAL SOLD EXPORT EXCEMPTION FROM EXCISE, EDN CESS AND SH EDN CESS WHICH EVER IS CORRECT. PLEASE CLARIFY MY DOUT. ADVANCE THANKING YOU,
what will be the entry for inventory
What is the dual aspect concept?
Is it necessary after every journal entry to show its treatment in P&L a/c? Eg. if I am asked to show journal entry of purchasing furniture & fixture on 1st Aug 06, i.e. Furniture & fixture a/c Dr. To cash/bank a/c Along with this, I have to pass following journal entry on 31st Mar 07?? P&L a/c Dr. To Furniture & fixture a/c
What is the acceptable accounting procedure when an error is detected in a general ledger account? Explain why such a procedure is followed?
Explain me the difference between accounting and auditing?
Sir, Now, i am purchasing ply wood, board, and other material for my office furniture. But now the furniture is incomplete so what would be the journal entry for this exp. in book.
What is use of statistics in accounting?
What are the differences between accounting and auditing?
Do you know public accounting?
how can we get a leaverage in intraday market if are not a professional acount holder?
In South Africa , the current rate for value added tax is ?
