Prepare a depreciation schedule assuming actual mileage was: 2022, 26,000: 2023, 32.000; 2024, 25,000 and 2025, 17,000. (Round cost per unit to 2 decimal places, e.g. 15.25 and all other an decimal places, eg. 5,275.) Year 2022 2023 2024 2025 Units of Activity Computation TONG 28000 32000 11000 Depreciation Cost/Unit 14 14 Annual Depreciation Expense 34400 4400 35000 S Accumulated Depreciation End of Year Book Value LOOD

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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.