ACCT 140-45 ACCT140-45 ACCT/140-45 Notes #14 [10-27-16] – Read Ch 9 Ex 9-6

ACCT 140-45 ACCT140-45 ACCT/140-45 Notes #14 [10-27-16] Read Ch 9 Ex 9-6

https://www. solvedcollege papers.com/p roduct/acct140-45acct140-45accty6 https://www. ACCT 140-45 solvedcollege ACCT140-45 papers.com/p ACCT/140-45 roduct/acctNotes # 5 [9- 140-4519-16] - Read acct140-45Ch 4 Ex 4-3 acctd3

Turn static files into dynamic content formats.

Create a flipbook

ACCT 140-45 ACCT140-45 ACCT/140-45 Notes #14 [10-27-16] – Read Ch 9 Ex 9-6

Published on Nov 24, 2021

solvedcp

Read Ch. 9Ex 9-6, PA 9-2, S 9-1 (Net) Book Value or Carrying Value – Asset (cost)Less: Accumulated Depreciation PP&E recorded at (Historical) Cost orExchange Price (principle)Expenditures Reasonable AND NecessaryTo acquire the asset AND place it in use Depreciation – the process of allocating (spreading) the depreciable base/cost of a long term tangible asset over the periods it is being used to earn revenue Straight line method Spreads the depreciable base equally over time Depreciable Base – Cost less Estimated Salvage Value (Residual)Divided by estimated useful life expense in years Accelerated method GOAL – to record the most depreciation expense in the first year, and progressively less each following year Double declining balance (book value)Book value * 2/(useful life) = annual depreciation expense https://www.solvedcollegepapers.com/product/acct-140-45-acct140-45-accty6 https://www.solvedcollegepapers.com/product/acct-140-45-acct140-45-acctd3

Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.