WebFixed assets provide the firm with long term financial gain as they have a useful life of more than one year. Fixed assets are also known as capital assets and are denoted by the term Property, Plant and Equipment in the balance sheet. Fixed assets cannot be easily converted into cash. Significance of Fixed Assets http://www.accountingstudents.weebly.com/uploads/6/4/9/4/6494232/asset_disposal.pdf
NATIONAL SENIOR CERTIFICATE GRADE 11 - Western Cape
WebXtra Gr 11 Accounting: In this lesson we focus on Asset Disposal. We look at the concept of asset disposal. We discuss disposing an asset at the beginning, during and the end of … WebREQUIRED Record the disposal of the asset as follows: Journalise the transactions Post to the General Ledger ANSWER GENERAL JOURNAL OF ABC TRADERS FOR FEBRUARY 2015 Debit 21 Accounting Grade 11 - CAPS Credit 5 GENERAL LEDGER OF ABC TRADERS Mar 1 Balance b/d VEHICLES 380 600 ACCUMULATED DEPRECIATION … birth control for menopausal women
What is a Fixed Asset? definition, types, formula, examples, list
http://www.accountingstudents.weebly.com/uploads/6/4/9/4/6494232/asset_disposal_exercises_learner_copy.pdf WebGAAP and fixed assets GAAP Fixed assets Internal control QUESTION 2: 50 marks; 45 minutes Topic of the question: This question integrates: Income Statement and Balance Sheet Note Income Statement Trade and Other Payables Note QUESTION 3: 40 marks; 30 minutes Topic of the question: This question integrates: Partnerships Concepts Notes to … WebAug 24, 2024 · Carrying value = R 10 000. Depreciation is calculated at 20% on Cost price. Additional depreciation: 100 000 × 20% = R20 000. The carrying value is already R10 000 and that means that depreciation can only be R10 000. A fixed asset cannot be depreciated less than the cost price of the vehicle. (And not R9 999!) daniel mclaughlin therrell bio