Term
depreciation matches an asset's expense with the _ it produces 

Definition


Term
to do depreciation the asset has to be? (current/non current) 

Definition


Term
for property to be counted as depreciated it must be 3 

Definition
used in business have life longer than 1 year can wear out/lose value 


Term
To calculate depreciation what 3 things do you need? 

Definition
acquisition cost estimatedd useful life residual value 


Term
what are the two things that determine the length of useful life of an asset 

Definition
physicla deterioration obsolescence 


Term
what is the non accelerrate method for deprication 

Definition


Term
which method says that depreciation stays constant? 

Definition


Term
what are the accelerated methods? 

Definition
declining balance method sum of the years digits methods 


Term
whihc method is used for income tax reporting? 

Definition


Term
what method do you use if you use the asset the same amount every year? 

Definition


Term
equation for straight line method 

Definition
Aq costresidual x 1/life years 


Term

Definition
net value for asset in the depreciation schedule 


Term
how do you calculate book value 

Definition
original cost accumulated depreciaiton 


Term
why are accelerated methods for depreicaiton used in income taxing? 

Definition
to decrease that year's taxes 


Term
equation for Sum of Years Digits method 

Definition
(cost  residual) x (remaining years of useful life/sum of years digits) 


Term
which method uses a version of the straight line method? 

Definition
double declining balance method 


Term
which methods does not use the residual value? 2 

Definition
doubledeclining balance method MACRS 


Term
equation for double declining method 

Definition
2x(straight line rate) x Book Value 


Term
if purchase item before Septemebr _ then you count the full month of september in the deprecriation 

Definition


Term
the years for MACRS are longer/shorter than estimated useful life for financial reporting? 

Definition


Term
depreicaiton is a what kind of expense? 

Definition


Term
where do you record for the date the asset what FIRST put to use, not when first bought 

Definition

