Fixed Assets

As there is no revenue you can retire the same asset.

Fictitious assets means any expendicture, the benefits which will be spread over a period of time not only to the current period. Any expendicture we made for huge advertisements resulted for a period of time. hence its is classifying as fictitious asset.

Current assets/Current Liabilities =1.5

(Current assets minus inventory)/Current Liabilities =1

Thus

Current Liabilities = 2 m

Inventory = 1 m

Bookkeeping, in business, is the recording of financial transactions, and is part of the process of accounting. Transactions include purchases, sales, receipts and payments by an individual or organization. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies. There are some common methods of bookkeeping such as the single-entry bookkeeping system and the double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process.

(Fictitious asset) An asset recorded in the balance sheet that really does not deserve to be classed as an attest . If this is intentional it may be considered fraud.

I think your question is regarding depreciation calculation.

You can repet the Deprication run procedure by selecting the Repeat run option ---- BY GCI

Secured loans are those which are borrowed from banks and other financial services, which are genrally huge amounts.

Unsecured loans are small amounts borrowed from unorganised instituion. Exapmle: Moneyborrowed from any person or a relative, where you can get the money without any security.

Accumulated depreciation is contra account in Assets section of Balance sheet. That means, assets normally have debit balance but Accumulated depreciation has credit balance. This is a unique type of account and it serves the purpose of showing the viewers the original amount of assets and the resulting depreciation on those assets. Acc dep is also an ingredient in depreciation journal entry. Where Depreciation expese is debited and acc dep is credited.

A non performing asset is one which does not earn any income. For example you have built a house consisting of 3 floors and the whole building is occupied by your family member and does not earn any rent, then this is called as a non performing asset.

A non performing asset is a type of asset which does not earn any income and these asset unable to cover up the investment put into it to hold.

if dues in the form of intrest and principle are not paid by borrower for the period of 90 days then the assets is called as N.P.A

Different Methods Of Dpn .

Straight Line Method

Diminishing Value Method

Annuity Method

Depletion Method

Written Down value Method

An asset or account of borrower,which has been classified by a bank or financial instution as sub-standard,doubtful or loss assets as per the guidelines issued by RBI.

An Asset/Advance is considered as non-performing in casse if interest or isntalment of principal or both remain unpaid for more than two quarters in a financial year.

if u forgot depreciation we have to follow the preliminary principal of the depreciation. That is

value of asset/life time of asset*100.

Basically , almost all times, i must be in full of concentration,

secondly, before cash paying and cash receiving we must count and give , at in any situation.

Finally, quick listener, and speed and accuracy maintainence is very important.

fixed asset are assest which gives the business future benfife

Fixed assets are those which are tangiable in nature and is not meant for sale in the near future and from which future benefits are derived.

Fixed Assets are those which are tangible and used for running the day to day business which are owned. As they are utilised for business, we save a part of the profit earned in the business to replace these Assets when they worn out.

Debentureholder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods.

At the time of addition

Assets NA account -------dr

To asset clearing account ----CR

At the time of retirement

the 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 & loss account cr and asset sale clearing account cr.

Loading, Unloading and Installation Charges during the time of shifting of the company cant be capitalised as such these Expenses are of (Opex) Operating Expenses nature.

Following are the depriciation methods that are used in FA module:

1. Flat rate method

2. Calculated method

3. Table method

4. Formula method

5. Production method

6. STL

7. DEMINISHING

8. Time-Hour

1. Double declining method

2. Units of production method

3. Straight-line method

4. Sum of year digit method

Depreciation Fund Method Insurance Method Annuty Method