Interested to Buy Any Domain ? << Click Here >> for more details...
Why don't calculate the depreciation on Land & Devlopment.?
Explain.
- 5 Answers
- 13304 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Depreciation is charged on the long term tangible assets
(Fixed Assets), over the period of it's useful life, due to
limited life and the value of the asset will come down due
to usage, effluction of time, obsolescence, etc. Since the
benefit of using these assets is spread over several years
the cost is also reasonably apportioned to more than one
accounting period.
This assumption is true in case of all assets except land.
Generally, the life of land is not limited (it's eternal or
perpetual)and it's value is not expected to come down &
hence as a general rule depreciation is not allowed on land.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / ronit
well depreciation is charged on usage of machinery and n assets as their usage and if we talk about depreciation on land we find rarely chances of low value of land because land value always increases with development
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / atul
As per me when we calculate the depreciation on land its
depand on location of land because as per rule we have not
charge the depreciation on Land & building at that time
their is no change in land area but if our land area is
locate near of rever or sea and due to change in water
level of rever or sea then our land area goes down so that
time we will charge the depreciation on Land & Building.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / sunil jadhav
As we calculate depreciation as the vlaue of fixed assets
goes down due to time factor but the value of Land dont
goes down
| Is This Answer Correct ? | 1 Yes | 3 No |
Briefly explain the difference between receipt & payment and income & expenditure account.
What is Compound Interest?
what is Bank Reconciliation Statement (BRS) give detailed explanation with causes?
when receieve cheque from a party and we deposite cheque in bank how do this entry
What will happen if an organization not maintain the sufficient working capital?
What is the Corporate Tax, Minimum Alternate Tax, Professional Tax, Business Tax Describe Me
Do you think there is any difference between inactive and dormant accounts?
Derivative
What is the master account?
what is nsc accrued interest
1 Answers Chartered Accountant,
Journalize the Following: 1. The following were purchased on account: a. Materials $ 10,000 b. Office supplies $ 2,000 c. Small tools $ 1,000
Sir, My Gross salary is 16000/- per Month and Birfication is as below Basic Salary 6400 HRA ``` 2560 Travelling con 640 Uniform Allowance 640 Bonus 1280 Professional All 640 Walfare Allowance 3840 Please inform me How much amount of TDS Regards, Ravinder
Audit 
