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![]() Related Questions Latest Answer : Fixed asset means it gives long term benefits to the organisation by year end we should find the accurate value of the asset for this purpose we must calculate the depreciation. ... After run depreciation i have forget calculate depreciation of one asset then how to calculate depreciation of that asset Read Answers (2) | Asked by : bmahathma Latest Answer : At the time of additionAssets NA account -------drTo asset clearing account ----CRAt the time of retirementthe nbv amount has been moved to the gain & loss account.In sale case we need to pass a journal entry to transfer the amount from gain & ... Read Answers (1) | Asked by : jayapraksh Latest Answer : Asset Accounting component in SAP is meant for managing and supervising fixed assets and their values. ... Read Answers (1) | Asked by : sridhar Depreciation is the decrease in the value of an asset due to wear & tear, obsolscense, laps of time. Latest Answer : Depreciation is a Gradual Diminishing or Decrease in the value of fixed assets due wear & tear, Obsolence. ... Read Answers (1) | Asked by : rama krishna I am trying to retire fixed assets that have fully depreciated. Can I retire it by scrapping Latest Answer : Yes, by scrapping the same Asset. ... Read Answers (2) | Asked by : jeanne Can we set default system date in fixed asset in Oracle Apps 11i? If yes, then how? Why do we calculate loans & advance on the asset side of the balance sheet? Latest Answer : Payments to staff as advance and loan to sister concern or other company on interest is chargeble (TERM LOAN ETC) ... Explain the nature and accounting treatment for fixed asset. Company purchase one car on 01/01/2008, one new accounting package, and paid audit service charges. The cost of car is 20,000.00, accounting software is 6000.00 and audit fee is 3000.00 estimated depreciation Latest Answer : Car:Tangible20,000 Accounting Software:Intangible6,000 To account payable26,000 Audit Fees3,000 To account payable3,000 DereciationDereciation:Car1,000 Amortization:Software1,000 To Accumulated Depreciation2,000 ...
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