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Q. What is Estimated useful life?
The estimated useful life of an asset is the approximate time that a company can use the asset. Useful life is estimation not an exact measurement that a company must make in advance. But sometimes the useful life is determined by company policy example keep a fleet of automobiles for three years.
Accountants use different procedures for recording depreciation. The method exemplify here is the straight-line method. We confer other depreciation methods in section 10. Straight-line depreciation assigns the similar amount of depreciation expense to each accounting period over the life of the asset.
Target Company issues bonds with a par value of $900,000 on their stated issue date. The bonds mature in 10 years and pay 10% annual interest in semiannual payments. On the issue
in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer
Cross indexing is made up
Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
At the end of the current year, $19,900 of fees have been earned but not billed to clients. • a. What is the adjustment to record the accrued fees? Indicate each account affecte
It is a national organization of female accountants in America that plans to further the interests of women in the accounting career. The American Society of Women Accountants (ASW
Accrual Concept The accrual concept makes a distinction among the receipt of cash, and the right to obtain it, and the payment of cash and the legal obligation for pay it. In
Q. What is journal? In explaining the rules of credit and debit we recorded transactions directly in the accounts. Every ledger (general ledger) account shows only the increase
Q. Explain Accounting entity concept? Business entity concept (or accounting entity concept). Data assemble in an accounting system relates to a specific business unit or entit
Q. Explain about Accrued assets? Accrued assets are assets such like interest receivable or accounts receivable that haven't been recorded by the end of an accounting period. T
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