Types of fixed asset in accounting
How many kinds of fixed asset are there in accounting? What are they?
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The immovable assets are termed as fixed assets.
There are five types of fixed assets are there as:
• Land • Plant & Machinery • Vehicles • Buildings • Furniture
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Accounts Receivable: The money owed by customers (that is, individuals or corporations) to other entity in exchange for services or goods that have been employed or delivered, however not yet paid for. Receivables generally come in the form of operati
Intangible assets: It is the asset that is not visible however we can feel them. The main examples of these assets are goodwill, patent and trade marks.
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The Webster Company uses the aging method to estimate the allowance for doubtful accounts. The following schedule of accounts receivable was prepared as at December 31, 20x6: Age Balance % uncollectible 0-30 days $674,000 0.5% 31-60 days 186,000 1.2% <
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