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What is the journal entry for record one month depreciation on the computer equipment. Useful life is 3 years?
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Is Depreciation of lease to own equipment calculated based on useful life or lease terms?
no
What is a fixed asset equipment depreciation schedule?
It is the schadule to show how fixed assets will depreciate in their useful life and show all information according to useful life the depreciation expense charge to income statement and to dispose off them in the end.
A change in the estimated useful life of equipment requires?
that the amount of periodic depreciation be changed in the current year and in future years.
Does the journal entry for depreciation involve Cash account?
No, Depreciation is the process of allocation of fixed asset cost for it's useful revenue earning value to each fiscal year's income statement. So it does not affect cash.
Is modern equipments useful to humans?
You used modern equipment (a computer) to post this question, I would say that is useful to you.
Are digital cables necessary for computer equipment?
Digital cables are not required with computer equipment but can be useful if you wish to share photos or videos from your computer to your television so a large group can watch at the same time.
How can you calculate a motorcycle's depreciation value?
Formula for calculating depreciation value Annual depreciation value = (Total cost - salvage value (if any) ) / useful life
Formula for calculating straight line depreciation?
Formula for straight line depreciation is as follows: Depreciation = (Cost of asset - salvage value) / useful life of asset
What is air conditioner useful life for depreciation purposes?
10
If the 150 percent declining balance method is used and an asset has a useful life of 20 years what is the depreciation rate?
Depreciation rate = 1/Useful life * 100 * 1.5 1/20 = 0.05 0.05*100*1.5 = 7.5 Depreciation rate is 7.5%
How do you calculate straigt line depreciation?
Straigt line depreciation = (total cost of asset - salvage value)/ useful life of asset.
Why is depreciation of plant and equipment an expense in the income statement?
Depreciation of plant and equipment is considered an expense because it represents the allocation of the cost of these assets over their useful lives. As assets are used in the production of goods or services, their value decreases over time due to wear and tear, obsolescence, or usage. Recognizing depreciation as an expense in the income statement helps to reflect the decrease in the value of these assets and ensures a more accurate representation of the company's profitability.
