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Distinguish between depreciation policy and the concept of depreciation?
Depreciation policy is management thing that what depreciation method to use and how much depreciation to charge to each asset. Depreciation concepts are concepts which govern the depreciation process which management cannot change they are universal rules to follow depreciation that how straight line depreciation work etc.
Which method of depreciation would you use if you were to receive a bonus which is based on net profit?
which method of depreciation to use when bonus is received that is based on net profit
What is an advantage and disadvantage of units of production depreciation?
Advantages: Easy to use Matches Cost to revenues (Matching Concept) Disadvantages: Depreciation can not be charged when the Asset is not in use.
Which depreciation method does not use residual value in calculating the first years depreciation expense?
Declining-Balance
Do you have to use the same depreciation for accounting and tax?
Tax department has developed theire own depreciation schedules for different assets class and use their own depreciations rather than using accounting depreciation and due to this accounting depreciation difference there is also difference in tax we pay and tax we calculate and called "Deffered Taxation"
What is the entry to record depreciation expense?
There are two entries to record Depreciation Expense. Say we are depreciating a TruckDebit Depreciation Expense - Equipment TruckCredit Accumulated Depreciation - Equipment TruckAt the end of the Accounting Cycle when the books are closed Depreciation Expense will be closed out, Accumulated Depreciation will not be. It remains on the books as long as the item being depreciated is in use and still listed as an Asset.
How are accumulated depreciation and depreciation related?
Accumulated depreciation and depreciation are related with each other as depreciation is annual expense while accumulated depreciation is the sum of all annual depreciation expenses.
What depreciation method does target use?
the straight line method
What depreciation method does wal-mart use?
Straight line
How are accumulated depreciation and depreciation expensese related?
Accumulated depreciation and depreciation are related with each other as depreciation is annual expense while accumulated depreciation is the sum of all annual depreciation expenses.
What method of depreciation does Target Corp use on their financial statements?
According to their annual report, Target generally uses the accelerated depreciation method.
How does one use a car depreciation calculator?
A person can use a car depreciation calculator by checking the following sources: What Car, Free Online Calculator Use, Edmunds, Bank Rate, Cars Direct, to name a few.
