What the Journal entry for Amortization

Answer Posted / babhu kanchupalli

1.Amortization a/c Dr
To. Intangible asset a/c
(Being amortization made)

2.Profit&Loss a/c Dr
To Amortization a/c
(Being amortization tranfered to P&L a/c)

Is This Answer Correct ?    5 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

How do you feel about committing yourself to another three years of exams?

606


Are you ready to work in rural place?

639


What is 'door-to-door banking'?

620


What kind of lifestyle do you expect to have in banking?

980


hi frends, i completed mba in 2008,i worked as finance reseach associate in opi comp through consultancy. now my problem is when iam going other comp inteview they ask me is mab finace candidate selected through consultancy. can any body tell me how can i tell ans this

1322






Tell about different types of accounts and their features?

657


How many associate SBI have?

687


What are the loan products of SBI?

659


scope,significance of taxationin private company?

1474


What are mutual funds? Why are mutual funds better than stocks?

594


What is HTM & AFS?

756


What are treasury bills?

673


The recession occurring twice in quick succession/gap is known as?

583


What are the disadvantages of equity shares?

602


What are the general techniques used by sccs?

563