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Q. What do you mean by depreciable asset?
A depreciable asset is a manufactured asset such like a building, vehicle, machine or piece of equipment that provides service to a business. In time these assets drop their utility because of (a) wear and tear from use or (b) obsolescence due to technological change. Since companies slowly use up these assets over time they record depreciation expense on them.
i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
Q. Cash equivalents and investments? Cash as well as cash equivalents consist of cash on hand and marketable securities with original maturities of three months or less. SFA
Why to and by using in journal, trading a/c, p&l a/c and ledger?
paid rent $200 by cash
what is accounting
What is the latest change taking place in the accounting world that will make a big difference to the way accountants prepare accounts?
Wings Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 1%, preferred stock of $40 par, and 50,000 shares of $120 par common. Durin
Prepare a trial balance All account names would be listed in left-hand column. Place the account balance in appropriate debit or credit column for those accounts which have
A company uses 85 circuit boards a day in a manufacturing process. The person who orders the boards follows this rule: Order when the amount on hand drops to 625 boards. Orders are
partner investments, journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 o
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