Accumulated depreciation is:     The depreciation expense recorded on an asset to date.     The remaining book value of an asset.     The depreciation expense taken on an asset during the current period.     An expense on the income statement.

Q: as accumulated all of its depreciation

A: When an equipment is sold before it has accumulated all of its depreciation , two entries are…

Q: After the disposal of an asset, the balance in the Accumulated Depreciation account related to that…

A: Depreciation are required to be charged by the business entities so as to shown the assets in the…

Q: For each account listed, identify the category that it would appear on a classified balance sheet.…

A: A balance sheet is a financial statement that reports a company's assets, liabilities and…

Q: which metric is used as the profitability metric and explain what it evaluate?

A: Profitability Matric is somewhere helps to analyse the financial performance and financial position…

Q: Assets that are NOT expected to provide benefits for a number of accounting periods are called…

A: Solution: Assets that are NOT expected to provide benefits for a number of accounting periods are…

Q: Match each account name to the financial statement section in which it would appear. Clear Al…

A: 1. ACCUMULATED DEPRECIATION - BUILDINGS AND LAND IMPROVEMENTS BOTH ARE RELATED TO FIXED ASSETS . 2.…

Q: Depreciation is: Oa. the loss in market value of an asset. Ob. the allocation of a long-term asset's…

A: Depreciation is an accounting method for reducing the total amount of a tangible or physical asset…

Q: Assets classified as property, plant, and equipment are reported at a. each asset’s estimated…

A: Property, plant, and equipment are Fixed Assets of the Company which are used to Provide the Sale of…

Q: In a classified balance sheet, long-term assets used in the normal course of business are known as…

A: Classified BS (Balance Sheet): It is a Financial Statement that classifies every type of asset and…

Q: which method of depreciation is used when the cost of an asset is written off in equal amounts over…

A: Depreciation represents the reduction in the value of an asset over an expected life.

Q: Assets used to generate revenue for a period longer than one year are called :Select one A. Fixed…

A: Assets indicate the resources owned by the company and shows in the balance sheet which represent…

Q: When depreciation expense is recorded each period, what account is debited?

A: Depreciation expense is the same of the other normal business expenses which is listed in the…

Q: What would be the adjusting entry to record depreciation each period?   a. Debit Accumulated…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: Describe the relationship between expense recognition and long-term assets

A: Two kinds of expense recognition are related to long-term assets; These are: Capital & Revenue.

Q: Which of the following would be considered a long−term ​asset?     A. Office Supplies   B. Land…

A: The balance sheet represents the financial position of the business with assets and liabilities on a…

Q: Accumulated Depreciation appears on the

A: The accumulated depreciation is deducted out of the purchase value of a company in order to arrive…

Q: Accumulated depreciation, equipment is reported:  Select one: On the balance sheet as a subtraction…

A: Depreciation is the non cash expenditure which is charged in the income statement as per matching…

Q: Describe  accounting for depreciation of fixed assets?

A: The depreciation is the reduction in the value of fixed assets with the usage and passage of time.

Q: Income earned from incidental operations before an asset is put to use is: deducted from the…

A: Incidental Revenue - Incidental revenue can be earned anytime during or before the assets put to use…

Q: The “carrying value” of a long term asset on the Balance Sheet represents: a. The net book value of…

A: Correct answer-option a:The net book value of the asset

Q: Long term assets without any physical existence but, possessing a value are called Current assets O…

A: (d) intangible assets is the correct option.  Intangible assets : intangible assets are those assets…

Q: financial statement does depreciation expense go on

A: Depreciation expense is an estimate of wear and tear caused to a fixed asset due to its use in the…

Q: Explain why depreciation expense is added back to net income and why an increase in inventories is…

A: A Cash flow statement is a financial statement that provides summarised information regarding cash…

Q: Match the following assets with its type. Current Asset, Fixed Asset, Contra Asset Accounts…

A: Current assets are assets that can be converted into cash in short period of time. Fixed assets are…

Q: Property taxes, office expenses, and insurance and depreciation on nonmanufacturing assets are…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: Accumulated Depreciation appears on the... Select one: a. balance sheet in the long-term liabilities…

A: Solution:- Introduction:- Accumulated depreciation is the total depreciation of fixed asset. The…

Q: Which of the following is not a required disclosure regarding intangible assets that are amortized…

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: The accumulated depreciation account in the statement of financial position will be treated in the…

A: Depreciation: Depreciation is the reduction in the value of the asset for a particular period. It is…

Q: The time an asset is expected to last is called its a.fiscal period. b.depreciation. c.useful life.…

A: Assets: Assets are the resources of an organization used for the purpose of business operations.…

Q: Statement 1: All property, plant and equipment shall be initially measured at cost and presented in…

A: property plant and equipment are shown in the balance it as a set under the non current asset…

Q: what type of account accumulated depreciation? and depreciation expense is and on what statement…

A: Accumulated depreciation is the total depreciation allocated to asset since the asset was used.…

Q: Property, Plant and Equipment 1. Statement 1: Carrying amount is the amount at which an asset is…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: An asset classified as property, plant, and equipment on the balance sheet must have which one of…

A: Property plant and equipment are: long term assets means they are expected to be used from more…

Q: What is book value (or net book value) of plant and equipment and on which financial statement is it…

A: Book value means the value at which it is shown in financial statements.

Q: The entry to record depreciation includes a debit to the​ ________ account.         A. Depreciation…

A: The depreciation is a decline in the value of tangible assets over their useful life. it is a…

Q: If machinery is depreciated @ 10%, What will the effects on financial statements Select one: а. It…

A: Depreciation alludes to the fall in the value of the fixed tangible assets due to wear and tear, the…

Q: Classify the accounts listed below by matching the account name with one of the following financial…

A: Current assets are all those assets that are realizable to cash within one year such as accounts…

Q: On the balance sheet, accumulated depreciation is: 
 Group of answer choices   subtracted from…

A: Answer: Option - subtracted from property and equipment.

Q: How depreciation has calculated all step in details?

A: Financial Statements:-These are statements prepared by the company in order to know its financial…

Q: Accumulated depreciation, as used in accounting, represents: O An expense on the income statement.…

A: Depreciation is an outlay which is being recorded in the books due to the fall in the asset's worth.…

Q: Accumulated depreciation and depreciation expense are classified respectively as A. Asset, contact…

A: Depreciation is the apportionment of cost of a asset over the life of the asset. Accumulated…

Q: A) In accounting for the acquisition of assets, the assets acquired are to be recorded at the ‘cost…

A: Introduction: The cost of acquisition of an asset comprises 1) its purchase price, including import…

Q: Explain the following terms: (a)Depreciation, (b)accumulated depreciation, (c)book value, (d)fixed…

A: Solution- a) Depreciation- Depreciation refers to an indirect and explicit cost that a company…

Q: Which of the following is a permanent account?     Accumulated Depreciation     Dividends…

A: All the expenses and revenue are known as temporary accounts such as revenue, dividends,…

Q: Which of the following statements is true? a) Tangible assets lack physical substance. b) Tangible…

A: Before we going to answer this question we should know the definition of tangible assets . Tangible…

Q: What is depreciation, and how is it computed

A: SOLUTION- MEANING OF DEPRECIATION- IT CAN BE DEFINED AS A CONTINUING, PERMANENT AND GRADUAL DECREASE…