You are watching: Which method is used to compute depletion
How must you record a capital expenditure?A.Debit a liabilityB.Debit an assetYour price is correct.C.Debit an expenseD.Debit capital
Which technique almost always produces the many depreciation in the first year?A.Straight-lineB.Double-declining-balanceYour price is correct.C.Units-of-productionD.All produce the same depreciation in the an initial year.
copy an equipment cost 33,000 and has built up depreciation the 30,000. Gain rid of maker and gets nothing. What is the result of the disposal transaction
Which technique is offered to compute depletion?A.Straight-line methodB.Double-declining-balance methodC.Units-of-production methodYour prize is correct.D.Depletion method
Wholesale Hardware Consultants purchased a building for $ 354,000 and also depreciated it on a straight-line basis over a 25-year period. The approximated residual value is $ 104,000. After utilizing the structure for 15 years, everyone realized that wear and also tear top top the structure would wear it out before 25 years and also that the approximated residual value have to be $ 88000. Starting with the 16th year, Wholesale started depreciating the structure over a revised full life of twenty years using the new residual value. Journalize depreciation cost on the building for year 15 and also 16.
(Cost-Residiudal value)/Useful life = straightline depreciationDepreciation expense - building 10,000Accumulated Depreciation - structure 10,000To record depreciation on structure expense - accumulated depreciation = publication value(Book worth - residual value)/ revised valuable life = amendment depreciation Redpreciation cost - buildingaccumlated depr. - building
<(Cost - collected depreciation) x DDB rate> x (number the months/12)= dual decling balance depreciation<($18,000-$7,200) x2 x (1/5)> x (9/ 12 ) =$3,240
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