Flashcards in Depreciation Deck (3)
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1
Q
Straight Lime Method Formula (depreciation per year)
A
(Cost of Asset - Estimated residual (scrap or salvage) sale proceeds) / Number of years expected use of asset
OR
Percentage based on original cost
2
Q
Reducing Balance Method
A
percentage based on NBV
3
Q
provision for depreciation have what type of balances
A
CREDIT
