Question and answer
Question not found
Ask a question
Not a good answer? Get an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
What sources are reliably used to estimate an asset's useful life?
Weegy: The significant component/s can be separately identifiable and measurable. A component/s useful life is estimated utilising industry standards and benchmarks. [ That information regarding assets and components is consistent over time. ‘Significant components’ are defined as those that have a different estimated useful lives and failure to depreciate them separately would result in a material difference in depreciation expense charged each year’ provides a criteria to utilise in the recognition of significant components. ] (More)
Question
Expert Answered
Asked 11/19/2011 10:57:55 PM
0 Answers/Comments
What sources are reliably used to estimate an asset's useful life?
Weegy: Accounting. (More)
Question
Expert Answered
Asked 11/19/2011 10:47:34 PM
0 Answers/Comments
How is the appropriate depreciation method determined?
Weegy: Four popular methods are: (1) straight-line, (2) units-of-output, (3) double-declining-balance, [ and (4) sum-of-the-years'-digits.A variety of approaches can be used to calculate depreciation.most companies elect to stay with one of the fairly basic techniques -- as they all produce the same "final outcome" over the life of an asset, and that outcome is allocating the depreciable cost of the asset to the asset's service life. Therefore, although you will now only be exposed to four methods, those methods are the ones you are most apt to encounter. ] User: Has the concept of asset impairment changed accounting for long-lived assets under the historical cost model? If so, how? Weegy: 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 ... (More)
Question
Expert Answered
Asked 11/19/2011 11:56:18 PM
0 Answers/Comments
How is the appropriate depreciation method determined?
Weegy: Four popular methods are: (1) straight-line, (2) units-of-output, (3) double-declining-balance, [ and (4) sum-of-the-years'-digits.A variety of approaches can be used to calculate depreciation.most companies elect to stay with one of the fairly basic techniques -- as they all produce the same "final outcome" over the life of an asset, and that outcome is allocating the depreciable cost of the asset to the asset's service life. Therefore, although you will now only be exposed to four methods, those methods are the ones you are most apt to encounter. ] (More)
Question
Expert Answered
Asked 11/19/2011 11:25:32 PM
0 Answers/Comments
17,893,256 questions answered
Popular Conversations
3x+3/18x= User: 10x+3/=
Weegy: this is quite simple, if you read over the question a few times and learn the tendencies. One number is ten ...
10/20/2014 5:27:08 PM| 5 Answers
Choose the product. -7p3(4p2 + 3p - 1)
Weegy: -7p3(4p2 3p - 1) = 7p3 - 84p6. Source: User: Find the quotient. 42j4k2 ÷ (-3j3k) Weegy: = 42j k /- 3j k) = ...
10/19/2014 5:43:50 PM| 3 Answers
Describe the key differences between managing and leading.
Weegy: ]
10/19/2014 5:51:01 PM| 3 Answers
Find the sum and choose the correct answer. 2n3 + 4n2 - 7 and -n3 + ...
Weegy: (2 n^3+4 n^2-7)+(-n^3+8 n-9) your answer is n^3+4 n^2+8 n-16 User: Select the correct difference. -3z7 - ...
10/19/2014 5:41:21 PM| 2 Answers
Weegy Stuff
S
L
1
1
1
1
L
1
L
Points 2160 [Total 14535]| Ratings 0| Comments 2160| Invitations 0|Offline
S
L
1
L
P
C
1
P
C
1
L
Points 1393 [Total 10874]| Ratings 3| Comments 1363| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 745 [Total 12974]| Ratings 0| Comments 745| Invitations 0|Offline
S
L
Points 448 [Total 1847]| Ratings 0| Comments 448| Invitations 0|Offline
S
1
L
L
Points 447 [Total 6241]| Ratings 3| Comments 417| Invitations 0|Offline
S
Points 401 [Total 401]| Ratings 0| Comments 371| Invitations 3|Offline
S
Points 297 [Total 298]| Ratings 3| Comments 267| Invitations 0|Offline
S
Points 180 [Total 180]| Ratings 1| Comments 170| Invitations 0|Offline
S
P
C
L
P
L
1
Points 48 [Total 6282]| Ratings 0| Comments 48| Invitations 0|Offline
S
Points 27 [Total 27]| Ratings 0| Comments 27| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.