Karteikarten
Chapter 17
Karten in diesem Stapel (17)
- 1DepreciationProcess of allocating the cost of an asset (less residual value) over the asset’s estimated life, 458.
- 2Depreciation expenseProcess involving asset cost, estimated useful life, and residual value (salvage or trade-in value), 458.
- 3Asset costAmount company paid for the asset, 458.
- 4Estimated useful lifeHow long asset will be in use, 458.
- 5Residual valueEstimated value of a plant asset after depreciation is taken (or end of useful life), 458.
- 6Salvage valueCost less accumulated depreciation, 458.
- 7Trade-in valueEstimated value of a plant asset after depreciation is taken (or end of useful life), 458.
- 8Accumulated depreciationAmount of depreciation that has accumulated on plant and equipment assets, 458.
- 9Book valueCost less accumulated depreciation, 458.
- 10Depreciation scheduleTable showing amount of depreciation expense, accumulated depreciation, and book value for each period of time for a plant asset, 459.
- 11Units-of-production methodDepreciation method that estimates amount of depreciation based on usage, 460
- 12Declining-balance methodAccelerated method of depreciation. The depreciation each year is calculated by book value beginning each year times the rate, 461–462.
- 13Accelerated depreciationComputes more depreciation expense in the early years of the asset’s life than in the later years, 453–454, 461–462.
- 14Straight-line rate (rate of depreciation)One divided by number of years of expected life, 461.
- 15Accelerated Cost Recovery System (ACRS)Tax law enacted in 1981 for assets put in service from 1981 through 1986, 462.
- 16Modified Accelerated Cost Recovery System (MACRS)Part of Tax Reform Act of 1986 that revised depreciation schedules of ACRS. Tax Bill of 1989, 2010 updates MACRS, 462–464.
- 17General Depreciation System (GDS)Most common (MACRS) system to calculate depreciation, 463.
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- Business/Economics Karteikarten am Chapter 17, erstellt von Imad NA am 02/10/2023.
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