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Accumulated deprciation
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∙ 13y ago
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What are the accounting journal entries to record a purchase of inventory at a distressed price?
If the inventory has some value then it must be entered in a new general ledger expense account and have a new contra asset account for the items. Enter the estimated value as a debit to the inventory obsolescence account and then credit it to the inventory reserve account.
What is the difference between investment and consumption assets?
Investment assets are assets that are held for investment purposes. Some examples are: Gold, Silver, Bonds , Stocks. Where as a consumption asset is an asset that is typically held for consumption. Some examples are: Oil, Copper, Cattle.
What are some examples of a digital asset?
A digital asset is any item of text or media that has been formatted into a binary source that includes the right to use it. 3D models is also an example of a digital asset.
Is Prepaid insurance is an asset account?
Prepaid insurance is that amount which is paid in advance for future insurance so until actual insurance facility is availed by company it is an asset of company and if it is for short term or will be availed in current fiscal year then it is current asset otherwise a fixed asset, if some portion is usable in current fiscal year then only that portion will be current asset and remaining will be fixed asset.
What communication is a vital asset in promoting organizational performance?
a situation is one involving two or more individuals who take account of each other for some purpose
Give some examples of contra asset account?
Accumulated Depreciation
What are the accounting journal entries to record a purchase of inventory at a distressed price?
If the inventory has some value then it must be entered in a new general ledger expense account and have a new contra asset account for the items. Enter the estimated value as a debit to the inventory obsolescence account and then credit it to the inventory reserve account.
What is the difference between investment and consumption assets?
Investment assets are assets that are held for investment purposes. Some examples are: Gold, Silver, Bonds , Stocks. Where as a consumption asset is an asset that is typically held for consumption. Some examples are: Oil, Copper, Cattle.
What are some examples of a digital asset?
A digital asset is any item of text or media that has been formatted into a binary source that includes the right to use it. 3D models is also an example of a digital asset.
Decrease an asset account and decrease a liability account?
if you have a asset and you sale it and then money which you get pay as a liability so decreas in asset and decreas in liability occurs.
Where can you find asset tracking software?
There are many asset tracking software programs. You can usually buy one from a store such as Office Depot. Some examples are waspbarcode, Asset Manage, <a href="http://www.cg4.com">CG4</a>, etc.
Do you have Contra Funds in India?
Some of the leading Contra Funds available for us to invest are: 1. ING Contra Fund 2. Kotak Contra Fund 3. L & T Contra Fund 4. SBI Magnum Sector Funds Umbrella - Contra 5. TATA Contra Fund 6. UTI Contra Fund and 7. Religare Contra Fund
Is Prepaid insurance is an asset account?
Prepaid insurance is that amount which is paid in advance for future insurance so until actual insurance facility is availed by company it is an asset of company and if it is for short term or will be availed in current fiscal year then it is current asset otherwise a fixed asset, if some portion is usable in current fiscal year then only that portion will be current asset and remaining will be fixed asset.
Does a vehicle need togo into a probate account?
It is a part of the estate and is an asset. In some places a vehicle can be transferred through a separate process.
What are Assets and liabilities?
Asset- An asset is something that the company owns. Examples of this are equipment, land, buildings, supplies, and cash. It can also include money owed to the company, and accounts receivable. Liabilities- A liability is something that the business owes to someone else. Some examples of this are loans and accounts payable.
What communication is a vital asset in promoting organizational performance?
a situation is one involving two or more individuals who take account of each other for some purpose
Can I have a list of some of the weirdest woodwinds?
Soprano saxophone(It doesn't even look like a saxophone) Contra-bass flute(it sounds like a tuba and it is HUGE) Bass flute Bass oboe contra-bass clarinet(it is even lower than a contra-bass flute!) Eb clarinet(it's so tiny) These are some of the weirdest woodwinds.
