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Q. What is depreciable amount?
The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the firm should allocate the depreciable amount as an expense to the various periods in the asset's useful life. It does this by debiting the sum of depreciation for a period to a depreciation expense account and crediting the amount to an accumulated depreciation account. Micro Train's depreciation taking place on its delivery trucks for December is USD 750 The Company records the depreciation as follows
Subsequent to posting the adjusting entry the T-accounts appear as follow:
Hugo Company has a five-day workweek and pays salaries of $35,000 each Friday. 1. Prepare the adjusting entry required on May 31, assuming that June 1 falls on a Wednesday. 2. Prep
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
what is book keeping?
1. From the following information, prepare a Balance Sheet showing the workings: 1. Working Capital ` 75,000 2. Reserves and Surplus ` 1,00,000 3. Bank Overdraft ` 60,000 4. Curren
Treatment of Provision for Taxation and Proposed Dividend: As preparing the Funds Flow Analysis, the treatment of condition for Taxation and planned Dividend is very significa
When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?
The formula for computing additional paid-in capital in excess of par is shares of stock times Saturday
Q. Share-based payment transactions? The fair value accounting standard SFAS 157 applies to monetary assets of all publicly-traded companies in the US as of 2007 Nov. 15. It as
nWhat is the implication of applying accounting concepts wrongly.imum 100 words accepted#
A characteristic organization chart for finance and accounting function is presented in following figure 2. You will notice the person at the helm of affairs the Director of Financ
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