Interested to Buy Any Domain ? << Click Here >> for more details...
what is motive behind create depriciation reserve? how to
pass journal entry in case of depriciation reseve?and how
it shows in the books of co.
- 3 Answers
- 13587 Views
- I also Faced
- E-Mail Answers
Answer Posted / anudeep
depreciation can be treated as in two ways one is deducted
from asset and other one is shown as liabibility.
if depreciation is deducted from the concerned asset. then
the balance sheet value asset does not show original cost
the reason why depreciation is treated as depreciation
reserve is to show the asset in the balance sheet as cost
value i mean historical cost we hav to provide depreciation
reserve
any way whether we are deducted from asset or creation of
liability i mean dep reserve the motive of depreciation is
replacement of assets after certain period.
the jounal entry will be like this
depreciation A/c dr
to dep reserve a/c
for transfer to profit and loss account
profit and loss A/c dr
to depreciation account
| Is This Answer Correct ? | 11 Yes | 1 No |
Post New Answer View All Answers
whether sale and purhases of cf agent are his and he is liablte to pay VAT on sale of goods and pay the tax to govt collected by him one more being receiving commission of saleproceed during the year whose stock would be it it is of c f agent or principal manufctrurer who has send the goods to sold on his behalf
what is a register when referring to accounting or bookkeeping?
What is the use of 2a, 2b & 2c form in CST ?
what is the responsiblities for accounts manager?
Do you think there is any difference between inactive and dormant accounts?
Do you know what is project implementation?
Unrealised profit will be debited to ?
pass journal entries of the following transaction in the books of AG sindh, AGPR,FTO and SBP: 1)DDo sindh house submitted a bill for purchase of furniture to AGPR islamabad for Rs.200000 on 20th March 09; 2)AGPR issued cheque on 2nd april which was cleared by SBP on 5th April; 3)On 26th may, voucher were exchanged in the clearing house; 4)On 28th May, AG sindh issued advise to settlement to SBP karachi; 5)On 5th june,SBP HQ karachi sends a copy of clearnce memo along with bank statement to AG sindh and AGPR for settlement made on 31st May.
What is the difference between trial balance and general ledger?
What is rate & taxes in Accounting. when we make a journal entry like rate & taxes debit & party credit. So i want to guide me consider for rate & Taxes.
My company was granted a bank facility of 750,000 for guarantee, performance bond, advance payment, retention guarantee and 100,000 bank overdraft. These facility amount was never added to the company account. a. What is the entry? b. Lien over fixed deposit for 50,000 to be brought upfront c. Lien over gradual buildup for fixed deposit 50,000 by transferring 10,000 monthly from customer's account to separate call account. d. After a month, we had an overdraft of 22,000. What will be my entry? e. After 3 months, we have a construction project and was asked for advance payment of 24,000 with a 25% margin? f. Another company asked for performance bond of 44,200 with 25% margin.
What are the features of financial accounting?
1.WHAT IS BRS? 2.WHY DO WE PREPARE BALANCE SHEET? 3.WHAT IS TRIAL BALANCE? 4.WHAT IS VENTURE CAPITAL? 5. WHAT IS DEFFERED REVENUE EXPENDITURE?
What is the limitaion of the Trial Balance?!
What is the procedure of submit bank guarantees and cancellation.
