Principles of Accounting.... 7110

[geni0usheeni]

off topic!!!!!!!!!!

 

[Steel Arm]

wat abt the quest on depreciation??? y is depreciation charged on NCA??

to charge income against cost i think
wbu?

 

[rhoveesh]

wat abt the quest on depreciation??? y is depreciation charged on NCA??

the ans was on market value thing..

 

[geni0usheeni]

to charge income against cost i think
wbu?

yhh i chose that 1 too...... thts option B rght???

 

[Steel Arm]

off topic!!!!!!!!!!

you 'off topic' comment itself is off topic duh!

 

[geni0usheeni]

the ans was on market value thing..

contrasting answers........

 

[geni0usheeni]

you 'off topic' comment itself is off topic duh!

really?? i was asking abt a question in the a/c paper itself i thnk...... wats off topic in tht??

 

[Steel Arm]

really?? i was asking abt a question in the a/c paper itself i thnk...... wats off topic in tht??

ok let's just forget that 'off topic' theme which is completely off topic

so we got the depreciation wrong?

 

[geni0usheeni]

ok let's just forget that 'off topic' theme which is completely off topic

so we got the depreciation wrong?

hmmmm
idk.............

 

[geni0usheeni]

rhoveesh shudnt it be on net book value????

 

[rhoveesh]

urs can be correct...u knw how 2 justify it?

 

[rhoveesh]

rhoveesh shudnt it be on net book value????

maybe its possible..gotta cnfirm

 

[geni0usheeni]

maybe its possible..gotta cnfirm

yhhhhh........... we shud confirm it........

 

[Steel Arm]

urs can be correct...u knw how 2 justify it?

so basically we charge depreciation to spread the cost of the fixed asset over its useful life
now why?
becuz we have to charge its income agianst it cost.....

as far as what you said is concerned.... i think it is not right
since anyways nca are recorded at cost less depreciation to get nbv

and not at market value

 

[geni0usheeni]

so basically we charge depreciation to spread the cost of the fixed asset over its useful life
now why?
becuz we have to charge its income agianst it cost.....

as far as what you said is concerned.... i think it is not right
since anyways nca are recorded at cost less depreciation to get nbv

and not at market value

yhhhhhhhhhhh u rght............... its on nbv.......... not market value..........

 

[Steel Arm]

yhhhhhhhhhhh u rght............... its on nbv.......... not market value..........

i'm da best

 

[rhoveesh]

so basically we charge depreciation to spread the cost of the fixed asset over its useful life
now why?
becuz we have to charge its income agianst it cost.....

as far as what you said is concerned.... i think it is not right
since anyways nca are recorded at cost less depreciation to get nbv

and not at market value

yep..this may be true
ur answr i think's correct...

 

[geni0usheeni]

i'm da best

hahhahha sure sure!!!!!

 

[Steel Arm]

yep..this may be true
ur answr i think's correct...

hopefully for me and geni0usheeni

 

[geni0usheeni]

hopefully for me and geni0usheeni

yhhhhhhhh.......... hope soo..........