1. Home
  2. Tag: Straight line Depreciation method

Tag: Straight line Depreciation method

O Level Notes : Accounts - Depreciation

O level Accounts

O Level Notes : Accounts - Depreciation

zimsake   Aug 29, 2021  0  843

Fixed assets such as buildings, machinery ,etc do not last forever. When the amount received by disposal of a fixed asset is deducted from the cost of purchasing it, the difference is known as depreciation. Depreciation is the price we pay for using the fixed asset over time. E.g a van was bought for $5000 and used for 5 years. It was sold for $1000. That is to say its value had depreciated by $4000 over 5 years.

Read More

Popular Posts

Our Picks

Categories

Random Posts

img

Tags