Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Show depreciation formula with example?
The depreciation formula (straight-line) to calculate straight-line depreciation for a one-year period is:
Annual deprecation = (Asset cost - Estimated residual value) / Estimated years of useful life
To exemplify the use of this formula recall that on December 1 Micro Train Company buy four small trucks at a cost of USD 40000 the journal entry was:
The approximate residual value for each truck was USD 1000 consequently Micro Train approximate the total residual value for all four trucks at USD 4000. The company approximate the useful life of each truck to be four years. By means of the straight-line depreciation formula Micro
Train calculated the annual depreciation on the trucks as follows
Annual deprecation = USD40000 -USD 4000 4 years = USD9000
The sum of depreciation expense for one month would be 1/12 of the annual amount. Therefore depreciation expense for December is USD 9000 ÷ 12 = USD 750.
Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area
Gwinnett Park Co. reported net income of $506,600 for its fiscal year ended September 30, 2014 . At the beginning of that year, 150,000 shares of common stock were outstanding. On
Q. Describe about Borrowed money? The company lent USD 6000 from Chaney's father. Chaney signs the note for the company. The note turn off no interest and the company promised
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
pls explain expenses incurred
what is accounting
Q. Explain about Amortize? Amortize -- to charge a regular part of an expenditure over a fixed period of time. Forinstance if something cost $100 and is to be amortized over te
Revenues emerge in the Income Statement credit column of the work sheet. The two revenue accounts in the Income Statement are credit column for Micro Train Company are service reve
Enumerate the fundamentals of financial accounting information Frame works and principles which have been developed try to address fundamental questions like: ?Who are user
Uses of the Profit and Loss Account 1) The key utilize is to monitor and calculate profit. This suppose that the informat ion recording is correct. Significant harms can arise
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd