What is provision for depreciation? What is it entry in P&L
& Balance sheet? How it is different from Depreciation
expense?
Answer Posted / kalya dutta
P/L a/c Dr
To provision for depreciation a/c
Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.
What is Budgeted capital ?
i m a student of icwai i have just passed out my foundation and i wanna no if i should go for both intermediate group together or not....
About Funding Working Capital to a Company? A company Turn over is 12 Cr, but in the bank statement credits per month is more that 3 Cr? how this could happen? awaiting your views?
Expand--------SRTA
income from depreciated asset is profit or loss?
difference between contra entry and double entry?
ACCOUNTING STANDARDS ISSUED BY INSTITUE OF CHARTERED ACCOUNTANCY INDIA FOR PREPARING FUND FLOW STATEMENT
hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units
what is difference between account and accounting
what are micro-cap, small-cap, mid-cap, large-cap companies?
fridge was capital or revenue?
give the examples of Error of Duplication?and Error of compensatin? with entries
Short Answer on ________Accounts Payables