Accounting Test 4

Card Set Information

Author:
patsknits
ID:
1068
Filename:
Accounting Test 4
Updated:
2009-11-18 07:26:30
Tags:
Depreciation
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Description:
Chapters 9 - 13
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  1. Methods of Depreciation
    1. Straight-Line


    2. Declining Balance



    3. Units of Activity
  2. Straight-Line Method of Depreciation
    • Basis - Salvage Value = Depreciation Expense
    • Useful Life













  3. Declining Balance Method of Depreciation
    • Basis - Accumulated Depreciation X 2 = Depreciation Expense
    • Useful Life






  • Units of Activity Method of Depreciation
    • 1. Basis - Salvage Value = Cost per unit of activity
    • Units of Activity


    2. (current year's activity) x Cost per unit of activity = Depreciation Expense
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