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Which of the following methods of computing depreciation is production based?
Wiki User
∙ 12y ago
Which of the following methods of computing depreciation is production based?
A. Straight-line.
B. Declining-balance.
C. Units-of-activity.
D. None of these.
Ans: C. Units- of- activity
Wiki User
∙ 12y ago
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What Technology is comprised of computing devices or peripherals that use techniques parts and methods from an earlier time that are no longer popular?
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Which is the first year depreciation deduction on a machine with a three-year- useful life which costs 5000 and has no salvage value?
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What are the types of depreciation methods?
In financial accounting there are three types of depreciation methods:Straight-line = (cost-residual value)/useful life. This method is used when the asset generates revenues that are equal (or very close to equal) over its useful life.Diminishing balance = (cost-accumulated depreciation)*depreciation rate. This method is used when the asset's revenues decrease over its useful life.Units of production = (cost-residual value)*units used /total life units. This method is used when an asset generates revenues based on its measurable usage.
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The five methods of production processes are job production, batch production, mass production, continuous production, and custom production. Each method is suited for different types of products and production volumes.
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Depreciation is the process of reducing the historical cost of an asset by an annual amount relating to the amount of asset usage. [ Most assets are recorded at historical costs by accounting departments; based on the type of asset, certain methods must be used to reduce the value of the asset each year. Depreciation affects the company financial statements, moving the depreciation amount from the asset value on the balance sheet to the depreciation expense on the income statement. GAAP Methods Several methods of depreciation are used to record the depreciation expense on the accounting books. The most popular methods include: Straight-Line: This is the simplest depreciation method; it is calculated by subtracting the asset salvage value from the asset's historical cost, then dividing the remaining amount by the useful years of the asset. This creates a constant amount for companies to depreciate each year. Declining Balance: The declining balance method is used for assets with shorter life spans for a company. This allows companies to deduct higher depreciation amounts early in the asset life and lower amounts as the asset is phased out of the company. Companies will usually determine what percentage of the asset will be used each year and multiply it by the asset value to determine annual depreciation. Units of Production: Manufacturing companies may use this method for assets used for production purposes only. It is calculated by subtracting the salvage value from the historical asset cost; this amount is then divided by the total unit production of the machine to get a per-unit depreciation amount. Each month, the units produced are multiplied by the per-unit depreciation amount to calculate the expense. Tax Method When calculating depreciation for U.S. tax purposes, all assets entered into service by a company after 1986 must use the Modified Accelerated Cost Recovery System (MACRS). The Internal Revenue Service (IRS) provides asset classes for companies to determine the useful life and asset salvage value for tax purposes.
What has the author Esa Tuulari written?
Esa Tuulari has written: 'Methods and technologies for experimenting with ubiquitous computing' -- subject(s): Ubiquitous computing
