The difference between the acquisition cost of an asset and its accumulated depreciation is called the...
Homework Answers
when Cost of assets includes all expense which is done when assets is purchased.
accumulated depreciation is an accumulation of depreciation on time being used
so difference between the acquisition Cost of an assets and its accumulated depreciation is called book value of an assets..
Book value of an assets = Cost of an assets-Accumulated depreciation
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The
difference between the acquisition cost of an asset and its
accumulated depreciation is called the...
The difference between the cost of a depreciable asset and its related accumulated depreciation is referred...
The difference between the cost of a depreciable asset and its related accumulated depreciation is referred to as the: a. market value of the asset. b. blue book value of the asset. c. book value of the asset. d. depreciated difference of the asset. 26.
The difference between the balance of a fixed asset account and the related accumulated depreciation account...
The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed a.book value b.contra asset c.historical cost d.market value
The total cost of an asset less its accumulated depreciation is called: Multiple Choice Ο Historical...
The total cost of an asset less its accumulated depreciation is called: Multiple Choice Ο Historical cost. Ο Book value. Ο Present value. Ο Current (market) value. Ο. Replacement cost.
The book value of a depreciable asset equals its acquisition cost minus the depreciation expense recorded...
The book value of a depreciable asset equals its acquisition cost minus the depreciation expense recorded since the acquisition date. True False
what is the Accumulated Depreciation for the Newly acquired asset (Lobby Furniture) if its not given...
what is the Accumulated Depreciation for the Newly acquired asset
(Lobby Furniture) if its not given to me like the other fixed
assets in the chart? Or do I leave this blank in my excel
worksheet?
with associated data as of 12/31/2015, were acquired prior to the current year. $700 Fixed Asset Date of Cost Salvage Useful Life Accumulated Acquisition Value (years) Depreciation Machinery 1/1/2007 $8,200 $6,750 Garage 1/1/2009 $11,000 $200 $8,400 Equipment Computers 1/1/2013 $4,000 $0 $2,400 Furniture Resellers...
Residual value is Multiple Choice The cost of an asset minus its accumulated depreciation An estimate...
Residual value is Multiple Choice The cost of an asset minus its accumulated depreciation An estimate of the asset's value at the end of its useful life All of these The same as an asset's service life O Another name for market value
The account "Accumulated Depreciation" reflects depreciation: equal to the salvage value of the asset equal to...
The account "Accumulated Depreciation" reflects depreciation: equal to the salvage value of the asset equal to the amount of revenue from that asset still to be taken on the asset in future periods taken since acquisition of the asset for the most current period only
Requirements 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated...
Requirements 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. Speedway prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. Consider the first year that Speedway uses the truck. Identify the depreciation method that meets the company's objectives. Print Done Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation,...
depreciation If the cost of an asset = $100,000 and in the first year that the asset was used, depreciation on the asset...
depreciation If the cost of an asset = $100,000 and in the first year that the asset was used, depreciation on the asset taken was $25000, What is the accumulated depreciation on the asset and what is its net book value?? What makes depreciation unique from other expenses on the income statement?
A fixed asset with a cost of $31,000 and accumulated depreciation of $27,900 is sold for...
A fixed asset with a cost of $31,000 and accumulated depreciation of $27,900 is sold for $5,270. What is the amount of the gain or loss on disposal of the fixed asset?
The difference between the cost of a depreciable asset and its related accumulated depreciation is referred to as the: a. market value of the asset. b. blue book value of the asset. c. book value of the asset. d. depreciated difference of the asset. 26.
The total cost of an asset less its accumulated depreciation is called: Multiple Choice Ο Historical cost. Ο Book value. Ο Present value. Ο Current (market) value. Ο. Replacement cost.
The book value of a depreciable asset equals its acquisition cost minus the depreciation expense recorded since the acquisition date. True False
what is the Accumulated Depreciation for the Newly acquired asset
(Lobby Furniture) if its not given to me like the other fixed
assets in the chart? Or do I leave this blank in my excel
worksheet?
with associated data as of 12/31/2015, were acquired prior to the current year. $700 Fixed Asset Date of Cost Salvage Useful Life Accumulated Acquisition Value (years) Depreciation Machinery 1/1/2007 $8,200 $6,750 Garage 1/1/2009 $11,000 $200 $8,400 Equipment Computers 1/1/2013 $4,000 $0 $2,400 Furniture Resellers...
Residual value is Multiple Choice The cost of an asset minus its accumulated depreciation An estimate of the asset's value at the end of its useful life All of these The same as an asset's service life O Another name for market value
Requirements 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. Speedway prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. Consider the first year that Speedway uses the truck. Identify the depreciation method that meets the company's objectives. Print Done Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation,...
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