WebbWhy is depreciation provided? answer choices to estimate the cost to the business of wear and tear to spread the cost of an asset over its useful life to set aside funds or future repairs to the asset to show market values in the statement of financial position to estimate the cost to the business of wear and tear alternatives Webb(3) Depreciation on property, plant and equipment for the year ended 30 September 2015 has yet to be charged. All depreciation is charged on a straight-line basis. Buildings …
What Is Depreciation, and How Is It Calculated?
Webb8 dec. 2016 · Under the usage method, depreciation is only charged when an asset is being used; hence under this method the depreciation charge can be nil while there is … Webb11 dec. 2024 · Depreciation and Amortization can be included in several spots on the income statement (in Cost of Goods Sold and as part of General & Administrative expenses, for example) and, therefore, require special focus. oyster brain
Straight Line Depreciation Method (Definition, …
WebbDepreciation is charged at the following rates: Buildings 2% pa straight line Plant and equipment 25% pa reducing balance Depreciation on buildings should be presented in administrative expenses. Depreciation on plant and equipment should be presented in cost of sales. The cost of land and buildings includes land of £100,000. Webb24 jan. 2013 · Depreciation Is the cost less the estimated residual value spread over the estimated useful life of the asset. If the life is long, depreciation might not be needed … WebbDr. Accumulated depreciation Cr. Disposal Dr. Depreciation Cr. Disposal Question 6 900 seconds Q. Cost : RM18,000 Residual Value : RM3,000 Useful life : 3 years Date of purchase : 1 Jan 2024 Financial year end at 31 December every year . Calculate the depreciation expense using straight line method. answer choices RM5000 RM10000 … oyster brunch