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2 years ago

Depreciation of noncurrent operating assets is an accounting process for the purpose of:________.

1 answer:

5 0

Depreciation of noncurrent operating assets is an accounting process for the purpose of allocating asset costs over the periods benefited by use of the assets.

Depreciation refers to an expense for a business to use non-current asset in order to generate economic benefits. Here the purpose of depreciation is to have balance sheet report the current value of an asset.

An accounting method used to allocate the cost of a tangible or physical asset over its useful life is known as depreciation. Companies usually take depreciation regularly so they can move their asset costs from their balance sheets to their income statements.

Hence, depreciation of noncurrent operating assets are benefited by use of the assets.

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2 years ago

Firm A issued a $1,000,000 bond with a 20-year term at a discount. If the remaining amount of the discount on bonds payable is $

oksano4ka [1.4K]

Answer:

Loss of $200,000

Explanation:

Carrying value of bond = $1,000,000 - $100,000

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Cash paid on bonds = $1,100,000

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Loss on bond = $1,100,000 - $900,000

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3 years ago

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Answer:

All accounting process are important.

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3 years ago

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