AC 341 chapter 10 hw 2

AC 341 chapter 10 hw 2 - Stephen Hruby Ch 10 DQ 35 BE 49,51...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Stephen Hruby Ch 10 DQ 35 BE 49,51 Case 63, 64 DQ 35.The practical characteristics of fixed assets that complicate the calculation of depreciation includes the fact that the use of estimates means that recorded amounts may need to be changed as time passes and new information is discovered that renders original information misleading. The depreciation schedule recognizes that fixed assets diminish in value throughout their lives and accounting records need to gradually reduce portions of the asset’s cost. The process becomes complicated because there are many different categories of fixed assets, the range of useful life of the assets can be wide, different methods of depreciation my be used, and staggered timing of fixed asset purchases means depreciation may not even be computed consistently within a certain category. BE 49. Information that must be maintained in fixed asset records during the asset continuance
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

AC 341 chapter 10 hw 2 - Stephen Hruby Ch 10 DQ 35 BE 49,51...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online