Answer / suresh kumar infi

Amortisation means loss in the value of intangible assets like patents ,good will.
Depreciation means loss in value of assets like land and building,furniture,machiery

Answer / b.thirupathi

Amortization usually refers to spreading an intangible
asset's cost over that asset's useful life. For example, a
patent on a piece of medical equipment usually has a life of
17 years. The cost involved with creating the medical
equipment is spread out over the life of the patent, with
each portion being recorded as an expense on the company's
income statement.

Depreciation, on the other hand, refers to prorating a
tangible asset's cost over that asset's life. For example,
an office building can be used for a number of years before
it becomes run down and is sold. The cost of the building is
spread out over the predicted life of the building, with a
portion of the cost being expensed each accounting year.

Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.

0 Answers  

---

Tell me what is the equation for acid-test ratio in accounting?

0 Answers  

---

my assessment says that I must post a dishonoured cheque in the general journal not a specialised journal how would I write that I know bank would be credited but what account would be debited???

0 Answers   TAFE,

---

companys act

2 Answers  

---

what are the voucher entries of gratuity in tally

3 Answers  

---

---

Option

2 Answers   Bank Of America,

---

how we maintain account for a coaching institute?

2 Answers  

---

If a paid to b rs.1000 on behalf of c what is the entries in The books of a,b,c pls pass the entries

8 Answers   ABC, Accenture, Genpact, Goldman Sachs, JPMorgan Chase, Okaya, Triburg,

---

what are the direct expense of loan department in banks.

0 Answers   MagicBricks,

---

I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?

0 Answers  

---

If i have started a new institution than what are the entries i have to passed in tally

2 Answers  

---

sold goods on credit rs 10000

0 Answers  

---