FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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Chapter 9, Problem 7Q

(a)

To determine

Factors of computing depreciation: For determining the depreciation cost of any asset, three factors are taken into consideration for computing the depreciation, they are;

  1. 1. Cost of the depreciable fixed asset
  2. 2. Estimated useful life of the fixed asset
  3. 3. Salvage value at the end of its useful life

To define: Salvage Value

(b)

To determine

To explain: the use of salvage value in determining the depreciable cost under the straight-line method.

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