Week 5

Question 1

straight line method of calculating depriciation

Answer 1

spread depreciation of account periods (/no. of years)

Question 2

where is depreciation shown in a statement of profit or loss

Answer 2

expenses

Question 3

where do you take depreciation away from

Answer 3

non-current assets

Question 4

what is the reducing balance method to calculating depreciation

Answer 4

applies a given percentage to the carrying amount at each year end to estimate the depreciation expense