Explain about depreciation, Accounting Basics

Assignment Help:

Q. Explain about Depreciation?

Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But the overall time involved in using up a depreciable asset such as a building is much longer and less definite than for prepaid expenses. As well a prepaid expense generally involves a fairly small amount of money. Depreciable assets but typically involve larger sums of money.


Related Discussions:- Explain about depreciation

Asset, exploration costs for mining companies are assets?.

exploration costs for mining companies are assets?.

What do you mean by risk management contracts, Q. What do you mean by Risk ...

Q. What do you mean by Risk management contracts? In the normal course of business the Company utilizes a variety of off-balance-sheet financial instruments to manage its expos

Adjusting entry, On october 5 2011 mara hotel collectedmthe amount of 18000...

On october 5 2011 mara hotel collectedmthe amount of 180000 repreesenting advanced rental from a tenant who occupies space of the building. tHe advanced rental willcover the period

Explain the dual aspect concept and materiality concept, Illustrate the sub...

Illustrate the subsequent Accounting Concepts: a) Dual Aspect concept b) Materiality concept c) Matching concept d) Conservatism concept

Scheduled for production, Lego Toys is planning to produce new toys at its ...

Lego Toys is planning to produce new toys at its factories.  The setup cost of the production facilities, production costs and profits for each toy are given below: Toy    Setup c

Explain about matching principle, Q. Explain about matching principle? ...

Q. Explain about matching principle? The matching principle need that expenses incurred in producing revenues is deducted from the revenues they generated during the accounting

A department transferred 7, A department transferred 7,000 units to the fin...

A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 500 units were still in process at the

What is perpetual inventory records, Q. What is Perpetual inventory records...

Q. What is Perpetual inventory records? Perpetual inventory records Even though companies could apply perpetual inventory procedure by hand tracking units and dollars in and ou

Donna, Jan. 1 Purchased a small company and recorded goodwill of $150,000. ...

Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years an

Trade, 1. Whate are the challenges faced in trade and solutions those probl...

1. Whate are the challenges faced in trade and solutions those problems?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd