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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.
An example of a committed fixed cost would be: a) taxes on real estate b) management development programs c) public relations d) advertising programs
A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7
Q. What is Managerial accounting information? A Managerial accounting information is for internal use and provides special information for the managers of a company. The inform
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
Explain the term- Salaries Expense and payment The Accounting Entry for Employee Earnings and Deductions Employer is the "agent" who is responsible for withholding the a
profit
Q. What are simple journal entries? To understand the cross-indexing and posting process trace the entries from the general journal to the general ledger. The ledgers accounts
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
Problem 1: i) Assess the importance of accounting in the Public Sector. ii) How far has the Governmental Accounting Standards Board (GASB) changed financial reporting, ass
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
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