Define the term the depreciable life of the asset?

Q: Describe the Depreciation methods?

A:

Q: e

A: The accumulated depreciation account is a counter asset account on a company's balance sheet, which…

Q: What entry is made when selling a fixed asset?

A: Following entry is passed when selling the fixed assets:

Q: WHAT IS LEGAL LIFE OF THE ASSET?

A: SOLUTION- LEGAL LIFE OR USEFUL LIFE OF ASSET- AN ASSET LEGAL LIFE IS THE PERIOD OF TIME (OR TOTAL…

Q: Define Depreciation expense.

A: Managerial accounting: Managerial accounting is the process of identifying, measuring, analyzing,…

Q: What is the salvage value of the asset?

A: Depreciable cost: It refers to the cost of an asset that is subject to depreciation. Depreciable…

Q: Why might the actual holding period for a property be different from the holding period that was…

A: The consideration while anticipating holding period: 1.The rental from the property. 2.The rate at…

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: WHAT IS TECHNICAL OBSOLECENSE OF ASSET

A: The term obsolete refers to the fact that a commodity is no longer in use. Obsolescence refers to…

Q: Explain why depreciation is provided?

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: at is the difference between depreciation and im

A: Depreciation: Depreciation is an accounting methodology of allocating the price of a tangible or…

Q: Define the term depreciation recapture?

A: Depreciation recapture is the earnings acknowledged by the offer of depreciable capital assets that…

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: Which of the following terms describes expenditures made to repurpose an asset?

A: The asset is the future benefit of the company that would have to be sacrificed to pay off the…

Q: What is the appropriate depreciation time for a new long-lived asset added to an existing one?…

A: Depreciation refers to the concept of evaluating the decrease in the value of an asset that occurs…

Q: Calculate Admissible depreciation, Including Additional Depreciation

A: Step 1 Depreciation is the Written down in the Value of the Assets.

Q: Explain the concept of VALUE IN USE. Why can it be a basis for recoverable amount of an item of…

A: Value in use means the asset’s net worth for the present time. Value in use is used to take decision…

Q: w to determine what depreciation should be used

A: Solution Concept Depreciation                 Depreciation refers to the expense that is recorded…

Q: Are Inventories depreciable property? Why?

A: Depreciable property means an asset which is eligible to book depreciation for accounting and tax…

Q: Define the term depreciation expense.

A: Depreciation: Depreciation is a method of reducing the capitalized cost of long-lived operating…

Q: How can we determine the service life of an asset?

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

Q: The cost of a depreciable asset is referred to as the

A: The Answer :

Q: Define the term accumulated depreciation.

A:

Q: Which assets depreciate?

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: When using IFRS, an asset's recoverable value is

A: International financial reporting standards (IFRS) are a set of accounting rules and guidelines that…

Q: provide an explanation of the concept of asset acquisition cost

A: The cost incurred in purchasing an asset is referred to as asset acquisition cost. It's beneficial…

Q: Discuss the characteristics, valuation, and amortization of intangible assets.

A: Intangible assets have two main characteristics: (1) Lack physical existence, and (2) Non-…

Q: In what ways might a depreciable asset's estimated service life be influenced?

A: The Answer

Q: Define the term accumulated depreciation and amortization?

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

Q: Describe the Amortization of Intangible Assets.

A:

Q: Explain the suitability of the depreciation method.

A: SOLUTION- Depreciation is an accounting method of allocating the cost of a tangible or physical…

Q: What is the cost of right of use of asset?

A: Given in the question: Sales Price 20,000,000 Fair Value 18,000,000 Carrying Amount…

Q: As a result of the transaction, what is the effect on the profit or loss? what is the cost of the…

A: On the occasion of disposal/exchange/sale of an asset, the net income of the entity is impacted by…

Q: True or False?

A: Meaning of Right of use asset The right of use asset is recorded by the lessee in the balance…

Q: Under IFRS, the recoverable amount of an asset is

A: Introduction:- Impairment loss arise when the amount by which the carrying amount of an asset…

Q: What is the objective in identifying the costs of an asset?

A: Asset:   It represents the tangible and intangible resources owned by the business for a particular…

Q: Is intangible assets is classified as current assets?

A: Generally, the liquidity of the assets plays a significant role in determining whether they are…

Q: Describe the characteristics, valuation, and amortization of intangible assets.

A: Intangible Assets: These are the long-term assets having no physical existence. However, the…

Q: Analyze the disposal of long-lived tangible assets.

A: The long-lived tangible assets are the fixed assets of the company.

Q: What is Depreciation calculation?

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

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.