--%>
Assignment Help - homework help

Define the term Equipment

Define the term Equipment in Accountancy? Why they are used?

E

Expert

Verified

Equipment might be stated as all such instruments that are employed for producing any product or machine or service. They have particular design to handle particular activities. They are purchased for long period. Therefore, equipment is the portion of fixed assets. We charge depreciation on equipment with some rate of depreciation. For showing its accurate written down value in books of company. We might provide other name of equipment such as tool, implement, or apparatus. There is a little difference among machine and equipment. Machine has its own system to do any work however equipment is just a mechanical tool for employing production or making or repairing any huge machine. That is the cause; we keep all equipment in individual head in the fixed assets.

   Related Questions in Financial Accounting

  • Q : Accouning Required parts are clearly

    Required parts are clearly describes at the end of the questions and additional resource contains the journal article related to question three.. Approx 2000 word assignment.. First Question is of not more than 1000 words to make memorandum and its example is given at end of assignment and require

    		•
  • Q : Factors considering before investing

    Being an investor, what are all factors you would consider before investing within the emerging stock market of developing country?

    		•
  • Q : Prepare the balance sheet At the end of

    At the end of March, 2006 the balances in the various accounts of TTTTT & Company are as follows: Rs. in million Accounts Balance Equity capital 120 Preference capital 30 Fixed assets (net) 217 Reserves and surplus 200 Cash

    		•
  • Q : Goals of Social Democrats What were the

    What were the goals of Social Democrats? What did Anarchists want?

    		•
  • Q : Short Term Solvency Ratio Define the

    Define the term Short Term Solvency Ratio?

    		•
  • Q : Avoidable Interest The book says

    The book says "avoidable interest is the amount of interest cost during the period that a company could theoretically avoid if it had not made expenditures for the asset." This makes it sound like avoidable interest is the total amount of interest paid for an asset. I know it's not but I was wonder

    		•
  • Q : Explain Return on Equity or ROE Return

    Return on Equity (ROE): The amount of net income returned as a percentage of share-holders equity. The return on equity measures a corporation's profitability by revealing how greatly profit a company produces with the money share-holders encompass in

    		•
  • Q : Major reasons of current account

    In contrast to the U.S., Japan has observed constant current account surpluses. What would be the major reasons for such surpluses? Is it advantageous to have constant current account surpluses?

    		•
  • Q : Explain Due Diligence Due Diligence: 1.

    Due Diligence:1. General: Assess of prudence, accountability, and diligence which is expected from, and ordinarily exercised by, a reasonable and prudent person beneath the situations.

  • Q : Maximum factors Explain the Maximum

    Explain the Maximum factors influences and involvement which will depend on the performance and success of the employees ?

    		•