What is depreciable amount, Accounting Basics

Assignment Help:

Q. What is depreciable amount?

The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the firm should allocate the depreciable amount as an expense to the various periods in the asset's useful life. It does this by debiting the sum of depreciation for a period to a depreciation expense account and crediting the amount to an accumulated depreciation account. Micro Train's depreciation taking place on its delivery trucks for December is USD 750 The Company records the depreciation as follows

2162_What is depreciable amount.png


Subsequent to posting the adjusting entry the T-accounts appear as follow:

1689_What is depreciable amount1.png


Related Discussions:- What is depreciable amount

Statement of cash flow, in cash flow statement, deductions from cash expenc...

in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer

Efficiency variances , Jackson Corporation uses a standard cost system, con...

Jackson Corporation uses a standard cost system, concerned manufacturing overhead on the basis of machine hours. The company's overhead standards per unit are given below. Varia

accounts receivable for small busines, How vital does Accounts receivable ...

How vital does Accounts receivable for small business and why?        Ans) Accounts Receivables help small businesses by giving short-term liquidity. Also continued sales on cre

capital structure of wild west inc., The capital structure of Wild West In...

The capital structure of Wild West Inc. is as follows: -    Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and present price at par -    Preferred shares: $2,000

Rosco Company, Rosco Company purchased 35,000 shares of common stock of Pax...

Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long term investment for $900,000. During the year, Paxton Corporation reported net income of $300,

Show purchase returns and allowances account, Q. Show Purchase Returns and ...

Q. Show Purchase Returns and Allowances account? Both allowances and returns reduce the buyer's debt to the seller and decrease the cost of the goods purchased. The buyer may d

Gain and loss recognition principle, Q. Gain and loss recognition principle...

Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther

Advantages and disadvantages of weighted-average, Q. Show Advantages and di...

Q. Show Advantages and disadvantages of weighted-average? Advantages and disadvantages of weighted-average when a company utilizes the weighted average method and prices are ri

Using 2012 as the base year, Using 2012 as the base year, prepare a trend a...

Using 2012 as the base year, prepare a trend anslysis for the data that follow, and tell whether the results suggest a favorable or unfavorable trend.(round to one decimal place.

Gni per capita, A calculate of the wealth is earned by nations by economic ...

A calculate of the wealth is earned by nations by economic activates all around the world. Gross National Income involves the total value of goods and services produced within a

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd