Questions

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9 Responses Leave a comment

#1Tim Coley @ 2009-12-17 13:28

What is the journal entry to record the 50% bonus depreciation on an asset that cost $1,000,000? Does it affect the accumulated depreciation balance?
#2linda @ 2010-2-13 10:05

I know on form 4797 section III is the place when you sell your business equipment (year 2000 semi truck) line 19 thru 24 then this is where I am not sure dont I carry the amount down to line 30? then where on the first page do I fill out? this is very confusing
#3Bahadır Selvi @ 2010-12-20 15:29

Hi,
suppose that you have an asset which has 10 years useful life. you bought that at the value of 110.000$ and 10.000$ residual value. By ifrs and SL method, we depreciate 10.000$ / 12 monthly. i want to know, if you make a renovation(20.000$) for that asset after 15 months later than you bought it, what will the new monthly depreciation?
#4Kishor Shethia @ 2011-1-23 07:09

Hello,

What are the specific guidelines on fixed assets depreciation on which IFRS differes from normal rules followed earlier in general. Please send me some writeup these new rules/guidelines for my knowledge.

Thanks in advance,

Kishor Shethia
SYSTIME Computers (India)
#5Yasir Masood @ 2011-2-9 00:36

I want to confirm wether it is mandatry to maintain seprate accumulated depreciation account/ledger or we can post depreciation entries on main asset cost account.

Thank You

Yasir Masood
Accounts Officer
#6Robert McKemy @ 2011-3-3 15:54

Sold a rental house dec.2008 on a land contract. Repossed the house in august 2010. I got pub. 537 from irs and figured my new basis and the gain . The instructions do not tell you where on form 4797 you report the repossession, and the gain.
#7Bernardete @ 2011-4-14 15:16

Can I use 15year S/L depreciation for a HAVC unit on the buiding I lease? The building is older than 3 years. Thanks for your help.
#8Shivakumar C G @ 2011-5-30 01:20

Dear Sir,
How to Caluculate In IFRS Deprecation & Diffreance B/w IAS & IFRS

Please provide above Comments

Thanking you,
Shivakumar
#9Jan Lekich @ 2011-6-27 12:21

IAS 16 says critical spare parts should be capitalized as property, plant, and equipment. We have to have very expensive spare parts on hand that require a year lead time to get to our facility. Do they get depreciated even though they are not in use?