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Depreciation And Sale Of Asset
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Depreciation is the decline in the future economic benefits of a depreciable non-current asset through wear and tear and obsolescence. It is an allocation process. It can be calculated by two main methods, each reflecting in a distinct prospect in the way the asset is used. Depreciation is to be ....
Middle of essay
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Depreciation allocates the assets cost or depreciable amount over the estimated useful life of the asset to the entity. It is not a process of asset valuation. The cost of the asset less the accumulated depreciation is not intended to give the current market value of the asset as the asset purchased is not intended for re-sale but use in the business.
There are two methods of depreciating an asset, the straight-line method, and the reducing balance method. The straight-line method of de.... |
| Number of words: 962 |
Approximate pages: 4 |
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