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Principles of Financial Accounting > Chapter 8 > Flashcards

Chapter 8 Flashcards

1
Q

Long-Lived Assets

A

Tangible:
- depreciation
- depletion
Intangible:
- patents, copyright, franchises
- trademarks, goodwill, bitcoin

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2
Q

Straight Line Depreciation Expense

A

Acquisition cost - residual value
/
Years of useful life

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3
Q

Double Declining-Balance Depreciation

A

(cost-accum deprec) x 2
/
useful life

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Principles of Financial Accounting (4 decks)

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