Question and answer
Is it appropriate to calculate depreciation using two different methods? Why?
Yes, many companies use two or more methods of depreciation. It is acceptable and common for companies to depreciate its plant assets by using the straight line method on its financial statements, [ while using an accelerated method on its income tax return. A company could also be depreciating its equipment over ten years for its financial statements, while using seven years for its income tax
return. Even the depreciation for financial statements could consist of some assets being depreciated using the units of production or units of activity method, while other assets are depreciated using the straight line method. ]
Expert answered|nlewis123|Points 60|
Question
Asked 6/18/2013 8:49:09 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
25,339,276 questions answered
Popular Conversations
What kind of money is a gold certificate considered to be? A. ...
Weegy: Silver certificates, along with gold certificates, represent a transition between commodity money and fiat ...
5/25/2016 7:59:59 AM| 3 Answers
Evaluate. 7^0
Weegy: 0! + 1! = 2 1 + 1 = 2 User: Evaluate. 3^-2 User: Evaluate. 5^-3
5/25/2016 5:38:45 PM| 3 Answers
What was the first armed conflict of the Cold War? A. the Korean ...
Weegy: The Korean war was the first armed conflict of the Cold War. User: Which of the following was NOT a ...
5/25/2016 6:38:57 AM| 2 Answers
Weegy Stuff
S
Points 639 [Total 639] Ratings 12 Comments 519 Invitations 0 Offline
S
Points 631 [Total 631] Ratings 9 Comments 521 Invitations 2 Offline
S
Points 568 [Total 568] Ratings 0 Comments 568 Invitations 0 Offline
S
1
L
L
P
R
P
L
P
P
R
Points 285 [Total 12537] Ratings 2 Comments 265 Invitations 0 Offline
S
L
P
P
P
Points 166 [Total 3543] Ratings 0 Comments 166 Invitations 0 Offline
S
Points 38 [Total 107] Ratings 0 Comments 38 Invitations 0 Offline
S
Points 12 [Total 12] Ratings 1 Comments 2 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 4 [Total 4] Ratings 0 Comments 4 Invitations 0 Offline
S
L
Points 2 [Total 1756] Ratings 0 Comments 2 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.