accounting

posted by .

What sources are reliably used to estimate an asset's useful life?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting

    For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability: Increase one asset and decrease another asset. Decrease …
  2. Managerial Accounting

    17.Pid has invested in a machine that cost $70,000, that has a useful life of seven years, and that has no salvage value at the end of its useful life. The machine is being depreciated by the straight-line method, based on its useful …
  3. Accounting

    Jeff Corporation purchased a limited-life intangible asset for $120,000 on May 1, 2006. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2008?
  4. Accounting

    Rich Corporation purchased a limited-life intangible asset for $180,000 on May 1, 2006. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2008?
  5. accounting

    For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: Increase an asset and increase a liability. Increase one asset and decrease another asset. Decrease …
  6. Math

    What method would be used in financial reporting and would not involve salvage value until the last year of an asset's useful life?
  7. Math

    An asset is purchased for$50,000.It has an estimated useful life of 12 years and a salvage value of $5,000. What is the annual depreciation of the asset using the straight-line method?
  8. accounting

    How do i calculate this problem. An asset was purchased for $150,000. It had an estimated salvage value of $30,000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $24,000 but …
  9. accounting

    For each of the following items, give an example of a business transaction that has the described effect on the accounting equation: * Increase an asset and increase a liability. * Increase one asset and decrease another asset. * Decrease …
  10. accounting

    Calculate the rate of depreciation for the asset with the help of given data.?

More Similar Questions