You have been such a lifesaver. I’m taking an accounting class and I was so lost until I found this channel. Your explanations make a lot more sense than the book.
@@Accountinguniv thank you so much, this was helpful. One last question when they say " Assume a tax rate of 28% and capital gains are taxed at 67% of the gains at the 28% rate. What do they mean and how do I calculate it?
a company acquired a machine on 01.01.2013 at cost of 130,000 and spent 2,000 on its installations and 3,000 on trasport. Life of the machienry is 10 years. The company uses the declining balance method of depreciation for machinery at 30% a year. the books of accounts are closed on the 31st december every year. what will be the depreciation charge for the year 2015(year 3)? a)19,845 b)28,350 c)13,500 d)88,695 e) none of above answers is correct Someone could help me?
thank you, i have one more question how would you do an adjustments for "interest earned on note receivable $103.72"? my unadjusted balance for interest expense is $700 (debit)
Andrew owns an office building with a depreciable basis of $1,245,500. Using the straight-line method, what is the allowable annual depreciation of Andrew's building...? $45,365.87 (Dollars) $31,935.90 (Dollars) $32,435.54 (Dollars) $45,272.73 (Dollars) Who can help me with this?
How can I depreciate 9,200 every year?! :( I mean is it just the way you depreciated the asset’s cost price with the salvage value?! I mean just instead of the cost price I have to depreciate 9,200?!
Never does anyone mention HOW THEY GET OR COVER UP WITH THE NUMBERS FOR A PIECE OF EQUIPMENT. HOW DO YOU KNOW? If you use 1,000 scrap value or 5,000 salvage value on something that's 16k new, how are they coming up with these "point and shoot numbers"......
You have been such a lifesaver. I’m taking an accounting class and I was so lost until I found this channel. Your explanations make a lot more sense than the book.
Hello po ☺️ pwede po magtanong
I am an Agriculture student Major in Agricultural Economics and my report is Depreciation Method. Thank you for this informative information❤️
Thanks so much for this. I changed my degree from accounting and finance to law and business management. Still doing a lot of accounting though
Congratulations
Thank you sir your lesson is simple to understand
Happy to help!
thankyou! i'll ace my FFA for sure now
Happy to help!
Play video at 1.5 speed. You're welcome.
haha great suggestion, I agree 👍🏻
Omg made it so simple this man doin Gods work !
Thanks for breaking this down and your extremely useful depreciation cheatsheet!
Tnx i was doing ppr and didnt know how to 30 marks was that i have done with ur this video
Thanks
Ur literally a life saver sir🙏
Thank you so much sir your teaching is very easy to understand love you God give you a lot of more knowledge
could you do one on profit margin?
I’ll put it on the list for upcoming videos!
Thank u .. it really helps
So simple to understand, thanks!
AoA sir your video was very interesting and helpful.
Thanks for liking! bit.ly/secret-video-vault-free
thank you so much this was very helpful
Thank you
Where do you get the salvage 8000 from 100000 asset
That was beautifully done by a beautiful man. Thank you sir!
Really appreciated work keep it up teacher
The people who asked about the salvage value.
Salvage value or residual value is expected value at the end of the period, or "last prise".
When given tax rate, how will we calculate the proceeds of a company?
Using straight line?
To calculate the proceeds (I assume you mean after tax income), you will multiply the income * 1 - tax rate to get your net income (or proceeds)
@@Accountinguniv thank you so much, this was helpful. One last question when they say " Assume a tax rate of 28% and capital gains are taxed at 67% of the gains at the 28% rate. What do they mean and how do I calculate it?
Salvage value is the estimated resale value of an asset at the end of its useful life.
thenx 4 ua lexon
Bro it's help thanks you
omggg ty for this
Thank you very much i wish if there is a Arabic caption
I have an exam on Sunday :( and I really want to get a full mark 🥺😔
Thanks sir
So nice of you! bit.ly/secret-video-vault-free
does this apply for Project cost management and accounting?
sure
Thanks sir am grateful
help a lot!
ive watched all his videos. i hope i pass. update soon
If the equipment was depreciated and the salvage value is zero? How do we record the equipment?
Then you will get Total Depreciation equals to Total Cost of the Asset
I did this but I somehow still got the first and last year wrong? Im so confused. Shouldn't they all be the same number?
a company acquired a machine on 01.01.2013 at cost of 130,000 and spent 2,000 on its installations and 3,000 on trasport. Life of the machienry is 10 years. The company uses the declining balance method of depreciation for machinery at 30% a year. the books of accounts are closed on the 31st december every year. what will be the depreciation charge for the year 2015(year 3)?
a)19,845
b)28,350
c)13,500
d)88,695
e) none of above answers is correct
Someone could help me?
Thank you bro
Evective video
and how do you use straight line depreciation on equipment depreciation for the month?
Azam Khan Take your annual depreciation and divide by 12 months
thank you, i have one more question
how would you do an adjustments for "interest earned on note receivable $103.72"? my unadjusted balance for interest expense is $700 (debit)
@@AzamKhan-sy2tb If it's interest earned, your adjusting entry is Debit Interest Receivable, Credit Interest Revenue
you. tell. clear. under stand
what if they did not give salvage , how to find it ?
if not given, just set to zero :)
In Amharic language
What does salvage value mean?
Video coming soon!
Hello sir. Is it possible to calculate depreciation for a vehicle that has only the value of the asset and the forced sale value
What if we don't know salvage value?
You will ignore it and set it to 0
Andrew owns an office building with a depreciable basis of $1,245,500. Using the straight-line method, what is the allowable annual depreciation of Andrew's building...?
$45,365.87 (Dollars)
$31,935.90 (Dollars)
$32,435.54 (Dollars)
$45,272.73 (Dollars)
Who can help me with this?
How can I depreciate 9,200 every year?! :( I mean is it just the way you depreciated the asset’s cost price with the salvage value?! I mean just instead of the cost price I have to depreciate 9,200?!
if I dont have no salvage value
then its cost - 0 divided by economic useful life
you mean asset. is it the TOTAL ASSET? what if theres no salvage value? how to get it?
If there is no salvage, just subtract zero :)
If there is no salvage, just subtract zero :)
If there is no salvage, just subtract zero :)
Never does anyone mention HOW THEY GET OR COVER UP WITH THE NUMBERS FOR A PIECE OF EQUIPMENT. HOW DO YOU KNOW?
If you use 1,000 scrap value or 5,000 salvage value on something that's 16k new, how are they coming up with these "point and shoot numbers"......
"dat asset"
He looks like one of the Doobie Brothers
Yeah