Answer Posted / mani
Land is not depreciated because land is assumed to have an
unlimited useful life. Land is long term assets, since
land’s life is not limited, there is no need to allocate
the cost of land to any accounting periods.
| Is This Answer Correct ? | 8 Yes | 1 No |
Post New Answer View All Answers
There is no item category assigned to account
Do you have any idea about gst?
For example for formation of a new company/offshore company you need to show paid up capital of 100K but you don't have 100K you as a director borrow loan of 100K from 3rd party and deposit in the bank as paid up capital and issued shares of 100K in director name. After one week you return back 3rd part loan. What are the entries in the books?
what is profit and loss(dr) in cash flow statement?
Wha is difference between expenses and expenditure
Plz Ask from me New Accounting Questions.
how to pass entry in tally for Interest received on sweep credited to saving a/c? In what group it should be come
What is the difference between personal account real account and nominal account?
What are the types of liabilities accounts?
As an importer of goods through letter of credit, (payment is done through indian bank to foreign back), my question is who is liable to pay with holding tax when the payment is remitted to foreign bank, whether the buyer(importer) or the seller and why?
What is the general net worth percentage banks will observe while sanctioning the Loans for Tranding, Construction and Manufacturing units.
purchase return liability or asset?should it be included in the balanced sheet?
Ours is a technology firm. We got a contract of 1 lac. It is payable at the end of the contract. How you will recognize revenue?
Tell me what is the difference between accumulated depreciation and depreciation expense?
Types of errors in account
