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Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this?
Ans) First we require to write-off the old asset ( by reversing the asset, accumulated depreciation and depreciation for the present FY by Cr the Fixed asset Write-off and Dr Proft/Loss on sale of asset under P&L account )
Q. Explain Accounting entity concept? Business entity concept (or accounting entity concept). Data assemble in an accounting system relates to a specific business unit or entit
what are the internal sources of accounting?
The ratio of __________ to __________ is an example of a __________ ratio. A. quick assets; current liabilities; leverage B. cost of goods sold; total assets; asset utilization
The Development Stage Entities Topic specifies the guidelines for identifying an entity in the development stage, addresses the applicability of generally accepted accounting princ
Just i need a news about public interest theory which is after 1 Mar 2013 for my assignment.
contributed her $10000 in exchange for $1000 of the shares. this was deposited into a new corporate bank account she set up with TD canada trust
Controller: Controller another name for Chief Accountant is generally the head of the whole region of accounting, including internal audit. He is generally in charge of all types
security deposit received from tenant
Q. Show the examples of long-term assets? Property, plant, and equipment are assets with helpful lives of more than one year a company acquires them for use in the business r
with help of illustrations,comment on final accounts
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