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
21,943,502 questions answered
Popular Conversations
The Dietary Guidelines for Americans include all of the following ...
Weegy: D. do not drink alcoho User: What components of a food label can help consumers compare the amounts of ...
8/29/2015 2:28:18 AM| 2 Answers
Why is Paine's use of aphorisms important in The Crisis No. ...
Weegy: C User: Read the quotation from The Crisis, No. 1, and then answer the question. “…the harder the conflict, ...
8/30/2015 4:35:59 PM| 2 Answers
Which of these religions is ...
8/29/2015 5:14:54 AM| 1 Answers
Who was at the top of the caste ...
8/29/2015 5:35:57 AM| 1 Answers
Weegy Stuff
S
P
C
L
P
L
1
P
P
1
P
1
P
L
P
R
Points 1286 [Total 11639]| Ratings 7| Comments 1216| Invitations 0|Online
S
L
Points 798 [Total 1113]| Ratings 1| Comments 788| Invitations 0|Offline
S
1
L
L
Points 757 [Total 9225]| Ratings 3| Comments 717| Invitations 1|Online
S
L
L
P
1
Points 737 [Total 9310]| Ratings 2| Comments 717| Invitations 0|Offline
S
Points 541 [Total 767]| Ratings 1| Comments 531| Invitations 0|Offline
S
Points 242 [Total 250]| Ratings 0| Comments 242| Invitations 0|Offline
S
Points 224 [Total 224]| Ratings 3| Comments 194| Invitations 0|Offline
S
Points 214 [Total 533]| Ratings 1| Comments 204| Invitations 0|Offline
S
Points 178 [Total 255]| Ratings 0| Comments 178| Invitations 0|Offline
S
Points 144 [Total 175]| Ratings 0| Comments 144| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.