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Criado por Eli Southard
quase 2 anos atrás
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Questão | Responda |
Accelerated Cost Recovery System | Tax law enacted in 1981 for assets put in service from 1981 through 1986 |
Accelerated Depreciation | Computes more depreciation expense in the early years of the asset's life than in the later years |
Accumulated Depreciation | Amount of depreciation that has accumulated on plant and equipment assets |
Asset Cost | Amount company paid for the asset |
Book Value | Cost less accumulated depreciation |
Declining-Balance method | Accelerated method of depreciation. The depreciation each year is calculated by book value beginning each year times the rate |
Depreciation | Process of allocating the cost of an asset |
Depreciation Expense | Process involving asset cost, estimated useful life, and residual value |
Depreciation schedule | Table showing amount of depreciation expense, accumulated depreciation, and book value for each period of time for a plant asset |
Estimated useful life | How long asset will be in use |
General Depreciation System | Most common system to calculate depreciation |
Modified Accelerated Cost Recovery System | Part of Tax Reform Act of 1986 that revised depreciation schedules of ACRS. Tax Bill of 1989, 2010 updates MACRS |
Residual value | Estimated value of a plant asset after depreciation is taken |
Salvage value | Cost less accumulated depreciation |
Straight-line method | Method of depreciation that spreads an equal amount of depreciation each year over the life of the assets |
Straight-line rate | One divided by number of years of expected life |
Trade-in value | Estimated value of a plant asset after depreciation is taken |
Units-of-production method | Depreciation method that estimates amount of depreciation based on usage |
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