Interested to Buy Any Domain ? << Click Here >> for more details...
Why don't calculate the depreciation on Land & Devlopment.?
Explain.
- 5 Answers
- 12842 Views
- I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
What are document required by the bank to make payment for debit memo (Import). if we have allready made payment for orignal bill.
Do you know balancing in accounting?
Q1©. Gratuity of Rs. 1,20,000 is received in August, 2007 by Mr. M, a legal heir of Mr. R aged 45 years who died on June 28, 2007. Is it taxable?
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
Describe the advantages and disadvantages of the different accounting packages/systems you have used recently in your accountant jobs
i want to wearies heads under direct expenses and indirect expenses
What are the functions of manger -accounts and manager-finance?
Can share warrants issued by the company be considered as potential equity shares? If yes, then will it be considered for calculating dilutive EPS?
What are the purposes of maintaining control ledgers?
WHAT ELEMENTS OF YOUR JOB JNTEREST YOU THE MOST AND LEAST?
What is a ledger?
How to pass an general entry for materials which are stored in warehouses??????
what stock transfer applicable in sister concern unit.
shares convert into share capital what is the journal entry? how many ledgers need to create?
Explain have you ever prepared mis reports and what are these?
