(a) What four (4) things do you need to know to figure out depreciation?(b) Name three (3) types of depreciation.(c) What is the difference between a prepaid item and an accrual.(d). What is the only asset that never depreciates?(e) What is depletion?(f) What is the proper order of placing items on the balance sheet?

Answered: (a) What four (4) things do you need to…

(a) What four (4) things do you need to know to figure out depreciation? (b) Name three (3) types of depreciation. (c) What is the difference between a prepaid item and an accrual. 4

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Question

(a) What four (4) things do you need to know to figure out depreciation?
(b) Name three (3) types of depreciation.
(c) What is the difference between a prepaid item and an accrual.
(d). What is the only asset that never depreciates?
(e) What is depletion?
(f) What is the proper order of placing items on the balance sheet?

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation

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