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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 )
The accounting records of Nu-tonics Inc., include the following information for the year ended December 31, 2013: Materials Inventory as at 1 January 2013 $ 20,000 Materials
WHAT IS ACCOUNTING
In June 2011,Kelly purchased new equipment for $26000 to be used in her business.Assuming Kelly has net income from her business of $75000 prior to the deduction,what is the maximu
Bonds issued giving the holder the option of exchanging the bonds for capital stock of the corporation are called
Q. Show types of activities performed by business organizations? The forms of business unit examined in the previous section are classified according to the type of ownership o
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