Answer Posted / n.shankar nath, sr. accountant

Fixed assets are held for the services they yield in the
production of other goods & services called fixed asset,
while getting the finished goods asset value will decrease
year to year i.e. called depreciation it's nothing but
expenditure.

Secondly it's a nominal account, expenses & loses debit &
income & gains credit, that's why depreciation will treat
as expenditure & post into P& L Account

Calculate the total Depreciation for four or five Years so practice some problems on depreciation?

1966

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What is mean by Reserve on Consolidation?

28044

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why did rbi hiked repo and reverse ratio and how it will effect the market

1795

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what is organic profit? and how it is calculated?

2205

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Short Answer on _____________Whole Sale Trade

2075

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Under the accrual basis of accounting incomes are recognised at the time -------------------

2154

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selling price = shs. 200, variable overhead-selling per unit= shs 80, variable production cost per unit = shs 60, fixed selling cost = 2,840,000. the production capacity of the project is 200,000 units. required P/V ratio, BEP and margin of safety

1976

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Short answer on____________Assessment Year

1775

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For how long should prepayments be carried in the books as fictitious asset and when is it ideal for a new coy to pay tax

2026

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Expand---------MNOP

1992

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HOW TO MAINTAIN BANK A/C

2029

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What are Corporate Action?

2686

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what is the difference between cash flow and funds flow

2174

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Do v call director in the partnership firm?

2095

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I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK

2073

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