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January 24, 2010
Antique Furniture Delivery Currently For Sale On eBay
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US $1,468.00
Antique Furniture Delivery
accounting question!?
J.Smoltz is the owner of an antique furniture store. THe buisness has a delivery van worth 23000 and equipment worth 25000. Depreciation has not been recorded on these fixed assets.
a) how is income tax affected?
b)why might depreciation have been deliberately not recorded?
c)what method of depreciation should have been used?
Help Pleaseeeeeee 
?
a) In accounting records profits will be overstated to the extent of depreciation charge
b) Clerical mistake or the decision of the management not to charge depreciation so as to boost up profits
c) The methods of charging depreciation is based on the estimates of future useful life of an asset. The usual methods are:
- Straight Line method
- Reducing balance method
- Sum of the years digit method
- Service hours method
Alan Mendelson & Interiors Made Eezzy
Antique Furniture Delivery Currently For Sale On eBay.
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Another great place to shop for Antique Furniture Delivery products is Amazon.
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Lipper International Child's Chalkboard Desk and Chair Set, Pecan List Price: $110.00 Sale Price: $77.99  |
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Finish:Pecan Child's Desk with Chalkboard Top and Chair Use from Toddler play to school age Hardwood construction Chalkboard top with grooves for chalk and inside storage Recessed under lid to protect children's fingers Child safe finish Desk: 23 3/4'Wx 18'Dx 22' H Chair: 11 3/4'Wx 14'Dx 23 1/2' H |
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