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Accounting 9

Accounting 9 - Chapter9 StudyObjective4 BriefExercise7and8...

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Click to edit Master subtitle style  4/7/11 Chapter 9 Study Objective 4 Brief Exercise 7 and 8 ShaTasha Harris Samera Ibrahim 
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 4/7/11 Study Objective 4 Describe the procedure for revising periodic  depreciation.
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 4/7/11 Life of Plant Assets Management should periodically review  annual depreciation expense.  If wear and tear or obsolescence indicates  that annual depreciation is either inadequate  or excessive, the company should change  the depreciation expense amount. When a change in an estimate is required, 
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Incurred Cost of Plant Assets Ordinary repairs are expenditures to  maintain the operating efficiency and  expected productive life of the unit. They  usually are fairly small amounts that occur  frequently throughout the service life.  Ordinary repairs are debited to Repair (or  Maintenance) Expense as incurred. EX. motor tune-ups and oil changes, the painting
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Accounting 9 - Chapter9 StudyObjective4 BriefExercise7and8...

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