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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:
Discuss the considerations that management should take into account in determining the design of an accounting system which will satisfy both (i) its own information requirements a
I need help understanding and filling out an income statement packet!
I submitted an assignment this morning and have heard nothing back
The total revenue of the month of June amounted to $6,500; total expenses amounted to $3,500; and withdrawals amounted to $600. The net income for the month amounted to $6,000. $
Q. What is the use of balance sheet? Balance sheet -- a statement of the financial position of a company at a single specific time(often at the close of business on last day
What is the end-of-period worksheet Show Trial Balance-debits MUST EQUAL credits Show Adjustments-debits MUST EQUAL credits Carry adjustments forward to Adjusted Trial Ba
Q. Example on completion method? Assume that by the end of the first year (2010) the company had incurred actual construction costs of USD 30 million. These costs are 75 percen
what are special journals
Q. What do you mean by Equities? Assets were described earlier as the things of value owned by the business or the economic resources of the business. Equities are every claims
Calculate WACC and Rate of Return Capital Structure: 50% debt and 50% equity financing Current cost of debt is 2% above prime (Prime is currently 2.5%) cost of equity is e
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