Financial Accounting

Financial history 1NameUnit nameUnit codeDateTable 1 Northwest Delta UnitedBook treasure January 1 , 2005 75 75 75Residual 3 .75 3 .75 3 .75Depreciable lose along 71 .25 71 .25 71 .25Useful life-time sentence 25 25 25Annual dispraise 2 .85 2 .85 2 .85Accumulated Depreciation at December 31 , 2008 11 .4 11 .4 11 .4Book Value at December 31 , 2008 63 .6 63 .6 63 .6 sales event Price I 55 60 65Gain (Loss ) on Sale I (8 .6 (3 .6 )1 .4Sale Price II 60 60 60Gain (Loss ) on Sale II (3 .6 (3 .6 (3 .6Workings 1ResidualNorthwest 5 75 3 .75Delta 5 75 3 .75United 5 75 3 .75Working 2Depreciable amountInitial cost- residual value 75-3 .75 71 .25Financial accounting 2Working 3Annual depreciationDepreciable amount 71 .25Useful life 25 2 .85Working 4Accumulated depreciationNumber of old age annual depreciation4 2 .

85 11 .4Working 5Book value at end of 2008Book value as at Jan , 1 2005- roll up depreciation75 - 11 .4 63 .6Question 2Companies make use of diametrical reusable life for the same asset since individually company has different policies concerning depreciation for the same asset . moreover useful life of an asset is an estimate based on past finger or through use of an expertise in a given field therefore as no particular(prenominal) rule is used in end of useful life then they...If you want to get a full essay, secernate it on our website: OrderEssay.net

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