ch 19 Flashcards
(12 cards)
annual depreciation
orignal cost - salvage / years
annual depreciation for different month
original cost - salvage / years. then divide by 12, time the difference in months when started. back to normal for other years.
received cash for sale of blank
accumulated depreciation - office or store, loss or gain, officer or store equip.
when selling …
ending book value is OG minus accumulated
gain
book value is less than sold
loss
book value is more than sold
ADJUSTING entries for selling equip..
depreciation expense, accumulated.
(when selling) cash debit is..
what you sold it for
cash receipts entries when gain
accumulated depreciation, blank equip., GAIN on plant assets
cash receipts entries when loss
accumulated depreciation, loss on plant assets, blank equip.
double declinining
/estimated useful life/100, x2. = rate
journalizing purchases
add assets cost together. pick assets and divide by total. multiply by given total of assets.
