depreciation Flashcards
1
Q
straight line depreciation / accumulated depreciation
A
cost of asset / Useful life
2
Q
Accumulated expenses formula. / depreciation charged
A
cost of asset - residual value OR x years used
——————————————
Useful life
3
Q
Net book value formula
A
cost of asset - Accumulated depreciation
4
Q
Reducing balance depreciation
A
% x costs (net book value )
5
Q
residual value
A
cost of asset
____________________________
how many years they had it for
6
Q
what does residual value mean ?
A
how much an assist costs after its useful life
7
Q
what does net book value mean?
A
how much an asset costs after accumulated depreciation
8
Q
revalution gain
A
new price - net book value
9
Q
remaining life
A
useful life - years used
10
Q
carrying value
A
assest cost - AD
