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Q. What is Depreciation?
Depreciation -- an expense which is supposed to reflect the loss in value of a fixed asset. Forinstance if a machine will entirely wear out after ten year's use, cost of the machineis charged as an expense over the ten-year life instead of all at once, when machine ispurchased. Straight line depreciation charges the same amount to expense every year.Accelerated depreciation charges more to expense in early years, less in later years.Depreciation is an accounting expense. In real life, fixed asset may grow in value or it maybecome worthless long beforedepreciation period ends.
where dose inventory changes aper on the balance sheet
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Q. Example of supplies on hand? On 2010 December 4 Micro Train Company buy supplies for USD 1400 and recorded the transaction as follows Micro Train's two accounts reci
Q. Explain about Long-term assets? Long-term assets are assets that a business has on hand or else uses for a relatively long time. Examples include plant, property and equipme
Bank for International Settlements (BIS) A consortium bank recognized to coordinate the collection and rescheduling of German reparations after World War I, the BIS has surviv
How do you do journal entries for an item bought on credit and then later returned and the total selling price was 4,275.
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
Flying High Inc. plans to raise $5,000,000 external financing through issuing bonds, and is considering two options: regular bonds and zero couple bonds. The regular bonds will ha
Accrual basis of accounting means that the costs or revenues of events are renowned in the period in which they happens; by the cash flows may take place in another accounting peri
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
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