Lec 15. Calculating Depreciation Amount | Journal Entry | Plant Account | Depreciation Account

Financial Accounting; (Accountancy); Accounting for Managers; Management Studies;

Lec 15. Calculating Depreciation Amount | Journal Entry | Plant Account | Depreciation Account;

How to calculate Depreciation? 00:00:00- 00:05:40
*How to calculate depreciation?
*Explaining the calculation method of depreciation in steps with examples
-Calculating the original cost
Purchase amount and installation cost
Salvage value
Life of the asset
Calculating the depreciation amount with the above details
Relation between salvage value, original cost and life of the asset

How to prepare journal entry with depreciation? 00:05:41- 00:11:58
*What are the credit and debit amounts?
Where to enter the depreciation amount in the journal?
*How to balance the journal entry after entering depreciation?

How to prepare Plant Account? 00:11:59- 00:19:19
*What are the entries of a plant account?
*What are the debit and credit amounts?
*How to balance the plant account?

How to prepare Depreciation Account? 00:19:20- 00:22:38
*What are the entries of a depreciation account?
*What are the debit and credit amounts?
*What are the calculations for a depreciation account?

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