The purpose of accounting for depreciation is to allocate the cost of a tangible or physical asset over its useful life.
<h3>What is depreciation?</h3>
It should be noted that depreciation simply means the wear and tear of a product based in usage. <em>Depreciation</em> shows how much of an asset has been used.
The scope of generally accepted accounting principles aims to improve the clarity and consistency if the communication of financial information. The five principles include:
Revenue recognition.
Cost principle.
Matching principle.
Objectivity principle.
Full disclosure.
The president’s proposal is within the scope of generally accepted accounting principles. It should be noted that depreciation doesn't guarantee funds.
Learn more about depreciation on:
brainly.com/question/1203926
#SPJ1
Answer:
The depreciation expense for the second year will be $108000
Explanation:
The double declining balance method is an accelerated form of depreciation that charges a rate that is double of the straight line depreciation rate. The formula for depreciation under double declining balance method is,
Depreciation expense = 2 * SLDR * BV
Where,
- SLDR is the straight line depreciation rate
- BV is the book value at the start of the period
The straight line depreciation rate = 100% / 5 = 20% or 0.2
<u>Depreciation expense under Double Declining method</u>
First Year = 2 * 0.2 * 450000 = $180000
Carrying value after Year 1 = 450000 - 180000 = $270000
Second Year = 2 * 0.2 * 270000 = $108000
Carrying value after Year 2 = 270000 - 108000 = $162000
Answer:
1.j 2.f 3. E 4. b 5. g 6. a
7. c 8. I 9. H 10. D
Explanation:
I had sooo much trouble on this to so dw ab it any longer i had to guess on some just to match em up. and i got a 100% so yeah dw i got you!
Plzzzzzz mark as brainliest
Have a blessed day!
Answer:The U.S. is the second-biggest mining destination on the planet, accounting for nearly 17% of all the world's bitcoin miners.
Explanation:
Answer:
C) $90,000
Explanation:
Beginning PBO = Interest cost/Discount rate =
Beginning PBO = $7,200/8%
Beginning PBO = $90,000