A. The depreciation value and end of year balance using the straight line method B. The depreciation value using the units of production method C. The depreciation value and end balance method? - of year balance using the double declining -

Q: ow to do a P&L statement

A: A profit & loss statement shows the organization's revenue, expenses, and its profit for a…

Q: Describe journal entries for external transactions.

A: A external transaction is a transaction which is entered by two people or two entities to exchange…

Q: What is a memorandum entry? Why it is done?

A: A memorandum entry is different from the journal entries. The memorandum entry is not recorded by…

Q: Student ID Day 63638034 Monday 23957096 Thursday 28080825 Monday Exam Score 61 70 1. How many…

A: =COUNTIF is used to count the cells satisfying the given criteria in the given range.

Q: Define declaration date

A: Answer: Declaration data is nothing a date the dividends are declared. This is usually done first…

Q: how do you format a journal entry.

A: Journal entry is the primary recording of any transaction which is entered in the financial…

Q: REQUIRED A. EQUATION B JOURNAL ENTRY C POST TO T-ACCTS

A:

Q: Why is a source document important? List some examples of source documents.

A: Source documents refers to the documents pertaining to a business transaction. It captures the key…

Q: What does the blank section post mean or what goes there

A: Post Column : It is the Column through which book keeper identify whether journal entries are…

Q: Can I have the Journal Entry for the above questions?

A: Journal entries - It is the act of keeping or recording the financial and non-financial transactions…

Q: Describe the purpose of caash receipts journal.

A: The cash receipts journal is a special section of the general journal specifically used to record…

Q: Define direct quote

A: A direct quote can be computed using the following formula: Direct quote=1Indirect quote

Q: prepare journal enteries

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Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.