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What is the Estimated Useful Life of fitness equipment?
10 years typically
What is scrap value?
The estimated value at which an asset is expected to be sold after the end of its useful life.
What is the estimated length of a stove in meters?
I'd say that ' 1 ' is.
What is the value of a power plant at the end of useful life is known as?
The value of a power plant at the end of its useful life is known as its salvage value. Salvage value is the estimated resale value of the plant's components and materials once it is no longer operational.
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.
What must be known In order to calculate the third years depreciation on an asset using the sum of the years digits method?
Original cost, estimated salvage value, and estimated useful life.
How do you amortize limited useful life intangible assets?
Limited useful life intangible assets are amortized by systematically allocating their cost over their estimated useful life. This is typically done using the straight-line method, where the asset's cost is divided by its useful life to determine the annual amortization expense. Each year, this expense is recorded on the income statement, reducing the asset's carrying value on the balance sheet. It is essential to review the useful life periodically and adjust the amortization schedule if necessary.
How a company can manipulate its net income by estimating the longer estimated useful life and salvage value of the fixed?
"http://wiki.answers.com/Q/How_a_company_can_manipulate_its_net_income_by_estimating_the_longer_estimated_useful_life_and_salvage_value_of_the_fixed"
What is defined as the estimated time period that an asset will be used?
The estimated time period that an asset will be used is known as its "useful life." This period reflects how long the asset is expected to provide economic benefits to the owner before it is retired or becomes obsolete. Useful life is important for accounting and depreciation purposes, as it helps determine how the asset's cost is allocated over time.
What makes an asset a capital asset?
Estimated useful life of two years or more Original purhcase price equal to or greater than $100,000
What makes an asset a capital assets?
Estimated useful life of two years or more Original purhcase price equal to or greater than $100,000
What are the terms depreciable value salvage value and estimated life mean?
Depreciable Value: It is the value of asset up to which any asset can be depreciated. Salvage Value: It is the value which a company can get on sale of fully depreciated asset. Estimated useful Life: It is that life of an assets which a company determine at the time of purchase for which an asset can be utilized in business to generate revenue.
