The balance sheet data of Blossom Company at the end of 2025 and 2024 follo Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land Accounts payable Accrued expenses 2025 $30,100 55,000 64,600 15,000 90,200 (18,040) 70,200 2024 $35,100 14,800 44,900 45,100 24,700 74,500 (8,000) 39,800 $307,060 $256,100 $64,600 $52,500 14900

Q: Define the term line positions.

A: Employees in the line positions are primarily responsible for achieving the goals of the…

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: Explain IO and PO Strips?

A: Interest only (IO) strips are a financial product shaped by unraveling the principal and interest…

Q: What are IO and PO strips?

A: Mortgage-backed securities: The financial instruments intended in raising investment which is…

Q: In a data visualization, the vertical axis typically shows __________.   Multiple Choice   values…

A: A column chart will include data labels along the horizontal (X) axis with measured metrics or…

Q: Define management by exception.

A: Management by exceptions: Management by exceptions determines that the managers should not focus if…

Q: Define Double-entry system.

A: Double entry system: Double entry system is a way of accounting or bookkeeping which implies that…

Q: Define characteristic line

A: Characteristic line is a graphical representation of alpha (α) where alpha is the difference between…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: Define Indirect method

A: Hey there ! Since particular concept is not given, indirect method is assumed under cash flow…

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.