Describe  accounting for depreciation of fixed assets?

Q: Depreciation represents a __________ in the value of fixed assets.

A: Fixed assets are those type of assets which are being held by the business for longer period of…

Q: What is the classification of long term assets? Explain them.

A: Long-term assets: Long – term assets are those assets that are generally held by a company for more…

Q: How was the depreciation for fix assets calculated?

A: Deprecaition Expenses There are different method which are used to calculate the deprecation of the…

Q: Which assets are included in the definition of current assets?

A: Current asset refers to the asset which can be easily converted to cash with a year. Current assets…

Q: The depreciation procedures that apply to the main kinds of depreciable assets in general?

A: Depreciation is an accounting method for allocating the cost of a tangible or physical asset over…

Q: Explain the conditions under which assets and liabilities are derecognized

A: The answer for the theory question on the conditions under which assets and liabilities are…

Q: Explain the terms:  Depreciation, Amortization, and Depletion.

A: Depreciation:  Depreciation is a method that reallocates the cost of tangible assets over its useful…

Q: A general description of the depreciation methods applicable to major classes of depreciable assets?

A: Depreciation is the allocation of cost of the asset over the useful life of the asset. Depreciation…

Q: Describe the relationship between expense recognition and long-term assets

A: Two kinds of expense recognition are related to long-term assets; These are: Capital & Revenue.

Q: The cost of an asset that is subject to depreciation os called?

A: Assets: Assets are those resources that are owned by the business organization which has an economic…

Q: What is the relationship of the asset turnover to the return on assets?

A:

Q: Iculate the Company's depreciation and amortization expe

A: The production volume of a corporation is determined by calculating NOPAT on operating income.By…

Q: What is the total loss on realization of assets?

A: Loss that is recognized when the assets are sold for a price is lower than the original purchase…

Q: Long term assets without any physical existence but, possessing a value are called Current assets O…

A: (d) intangible assets is the correct option.  Intangible assets : intangible assets are those assets…

Q: What is the relationship between depreciation and net income?

A: Depreciation is the part of cost of a asset which is charged to income statement yearly as a expense…

Q: Discuss about the revenue/expense approach and also about the asset/liability approach.

A: Any amount of money spent to generate the revenues in a business is known as expenses. Revenue is…

Q: What are the different types of accounting depreciation and their primary purposes?

A: Methods of Depreciation: Depreciation refers to the reduction in the monetary value of a fixed asset…

Q: Why depreciation on fixed assets is not recorded in receipts and Payment Account?

A:

Q: Explain the difference between depreciation, depletion, and amortization.

A: Depreciation - Depreciation is the wear and tear of fixed assets due to use, effluxion of time, and…

Q: Which of the following is not included in the computation of profit or loss? Interest Expense on…

A: Employee benefits It is the  consideration provided  by business  to employees  in exchange for…

Q: Depreciation expense is used to

A: Depreciation is gradual decrease in the value of asset due to normal wear and tear, obsolescence and…

Q: Explain Treatment of Depreciation Expenses?

A: Depreciation is the total charging of the cost of an asset over its normal valuable life. The method…

Q: Define each of the following terms:d. Depreciation; amortization; EBITDA

A: The formula to compute EBITDA as follows:

Q: Elaborate the term: “De-recognizing” financial assets

A: Financial asset is a form of liquid asset for the business. These assets gets its value from the…

Q: Explain the term Treatment of Depreciation Expenses?

A: Depreciation is a charge calculated on the value of fixed assets, based on normal wear and tear due…

Q: Explain the investment Adjustments for Other Assets and Liabilities.

A: Fictitious assets are described as the deferred expenses or losses incurred in a particular…

Q: Identify the accounting issues related to asset impairment.

A: Asset impairment emerges when there is an abrupt drop in the fair value of an asset underneath its…

Q: Define the term accumulated depreciation and amortization?

A: Accumulated Depreciation and Depreciation. Every asset’s value decreases over time the reason being…

Q: Determine an asset's depreciable life?

A: A tangible asset is a substantial resource. Tangible resources incorporate fixed resources including…

Q: How is the straight-line depreciation calculated?

A: Definition: Straight-line depreciation method: The depreciation method which assumes that the…

Q: What type of assets requires adjusting entries to record depreciation?

A: The assets that require adjusting entries to record depreciation is long-term tangible assets. The…

Q: The cost of an asset that is subject to depreciation is called?

A: The cost of an assets that is subject to depreciation is called depreciable cost and not the actual…

Q: how to Determine the total assets

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: How depreciation has calculated all step in details?

A: Financial Statements:-These are statements prepared by the company in order to know its financial…

Q: How does depreciation expense differ from other operatingexpenses?

A: Depreciation: It refers to a gradual decrease in the fixed asset’s value because of obsolescence,…

Q: accumulated depreciatio

A: Depreciation shows the reduction in the value of a long term asset over a useful life of the asset.…

Q: What is the main function of depreciation accounting?

A: Depreciation is the estimated consumption of fixed assets that are recognized in the income…

Q: What is depreciation, and how is it computed

A: SOLUTION- MEANING OF DEPRECIATION- IT CAN BE DEFINED AS A CONTINUING, PERMANENT AND GRADUAL DECREASE…

Q: rate calculation of depreciation

A: Depreciation: Depreciation Cost is the cost that is allocated over its life and it is charged as an…