Course Content Market information, double entry, ledger accounts, day book, cash book, trial balance, bad debt, provision for bad debt, accruals and pre-payment, bank reconciliation statement,depreciation,provision for depreciation,application of accounting software (MYOB), commercial correspondence, voca...
In fact, the above non-current asset entry goes on top of the initial premium:Premium $8mRestoration $2m ___Initial cost $10mDepreciationThen, of course, the above is depreciated over its life, which is 10 years.Depreciation double entryThis is the same every year:Dr i/s $1mCr NCA $...
the sums charged inDOUBLE ENTRY ACCOUNTSagainst a firm'sPROFITSin anticipation of costs which are likely to arise in the future. The most common general provision made by firms is the provision forDOUBTFUL DEBTSwhich is established in anticipation of some customers not paying what they owe. In ...
1 Satellite has buildings under an operating lease. A requirement of the operating lease for the corporate offices is that the asset is returned in good condition. The operating lease was signed in the current year and lasts for six years. Satellite intends to refurbish the building in six ...
When you need to create or increase a provision for doubtful debt, youdo it on the 'credit' side of the account. However, when you need to decrease or remove the allowance, you do it on the 'debit' side. Double entry for Bad Debts and Provision for Bad Debts ...
Course Content Market information, double entry, ledger accounts,daybook,cashbook,trial balance, bad debt,provisionforbad debt, accruals and pre-payment, bank reconciliation statement, depreciation, provision for depreciation, application of accounting software (MYOB), commercial correspondence, vocational ...
The journal entry is: Debit Property, Plant and Equipment (nuclear power plant): CU 1 967 Credit Provision for Decommissioning: CU 1 967 Special For You!Have you already checked out theIFRS Kit? It’s a full IFRS learning package with more than 40 hours of private video tutorials, more ...
Course Content Market information, double entry, ledger accounts, day book, cash book, trial balance,bad debt,provision for bad debt,accruals and pre-payment, bank reconciliation statement, depreciation, provision for depreciation, application of accounting software (MYOB), commercial correspondence, voca...