Asked by
Itzel Pimentel
on Nov 14, 2024
Verified
Each of the following is used in computing revised annual depreciation for a change in estimate except
A) book value.
B) cost.
C) depreciable cost.
D) remaining useful life.
Revised Annual Depreciation
The updated calculation of depreciation expense per year after making any necessary adjustments to asset value or useful life.
Depreciable Cost
The expense of a fixed asset reduced by its salvage value, indicating the entire sum that can be depreciated throughout the asset's lifespan.
Book Value
The value of an asset as it appears on a balance sheet, calculated as the cost of the asset minus any depreciation.
- Identify the accounting procedures for adjustments in depreciation estimates and alterations in the depreciation method.
Verified Answer
OR
Learning Objectives
- Identify the accounting procedures for adjustments in depreciation estimates and alterations in the depreciation method.