Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / mr. accounting expert
Loose Tools comes under the Assets side of the Balance Sheet. If there has to be Depreciation marked for Loose Tools, it has to be entered under Debit side of Profit/Loss a/c. It is a fixed asset, and depreciation is charged on it every year. Therefore, it is NOT a current asset. It is a FIXED ASSET.
| Is This Answer Correct ? | 29 Yes | 6 No |
Post New Answer View All Answers
what are the different methods of teaching share and debenture to pre degree students
In which account does the unpresented cheque will get recorded?
What are the 4 phases accounting?
What is bond ? What is capital market?
What is departmental accounting? Give an example
In which condition a vendor raise excise invoice & what are the effect of excise invoice on client ?
What is the purpose of accounts like e.g. expense accounts assigned a account number 0040, principal account assigned anumber 0060.In our general ledger software such numbers are assigned.I want to know how these numbers (accounts) help in maintaing accounts of a company (like bank reconciliation).
whether sale and purhases of cf agent are his and he is liablte to pay VAT on sale of goods and pay the tax to govt collected by him one more being receiving commission of saleproceed during the year whose stock would be it it is of c f agent or principal manufctrurer who has send the goods to sold on his behalf
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
Why have you applied to our firm?
Do you have any professional experience in this field?
Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
Explain in simple terms what is the difference between asset, equity, and liabilities?
What is the difference between cfa and csa?
how to see reoprt of miro booking in SAP FI
