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Q. Example of accumulated depreciation account?
The accumulated depreciation account doesn't represent cash that is being set aside to change the worn out asset. The un-depreciated cost of the asset is a debit balance in the asset account (original cost) minus the credit balance in the accumulated depreciation contra account. Accountants as well refer to an asset's cost less accumulated depreciation as the book value (or net book value) of the asset. Therefore book value is the cost not yet allocated to an expense. In the previous instance the book value of the equipment after the first month is
Cost USD 40000
Less: Accumulated depreciation 750
Book value (or cost not yet allocated to as an expense) 39250
The company borrowed 30 000on September 1, 2011. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate
Antidilution of Ownership The right of an investor is to continue the same percentage ownership of an organizations main stock in the event that the organization issues more s
Q. Show accounting deception situations? In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from
I need help understanding my Accounting 205 class. Would some one please help me understand what I am having such a hard time comprehending.
The transactions for February need to be processed on MYOB with the Username:n10026509 and no password and make sure the audit trail is on. Then Part B is a performance report. The
What is the implication of applying accounting concepts wrongly
Ledger = From the Journal entries we will post the transactions in a book known as Ledger. Ledger is a book which contains the summarized and classified form of permanent record
Notes to financial statements
I am doing a report on finding the major challenges in the future of my university with regards to their revenue and expenses. I have to discuss the main financial obstacles face
The range of accounting can be presented in a diagrammatic form. Data collection and creation is the area that provides raw material for accounting. The data collecte
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