Buch Company acquired a piece of equipment in Year 1 at a cost of $100,000. The equipment has a 10-

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A: In Double Entry System, the total of assets are always equal to the total of liabilities.

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

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A: Multi-step income statement: It is the presentation of a normal income statement in a more detailed…

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A: Quantitative Easing  (QE): It is a form of monetary policy. Under quantitative easing , the central…

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Q: Discuss the Crowdfunding Campaign process with appropriate examples.

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Q: What do you understand by crowdfunding?

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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.