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?
Homework Answers
Solution:
Accumulated depreciation on assets = Depreciation for the first year = $25,000
Net book value= Cost - Accumulated depreciation = $100,000 - $25,000 = $75,000
Depreciation expense is a non cash expense shown in income statement. It reflects cost of asset used during the year. Therefore it is unique from other expense in income statement.
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depreciation If the cost of an asset = $100,000 and in the first year that the asset was used, depreciation on the asset...
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Depreciation show work please 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?
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