Financial Accounting

Financial method of accounting 1NameUnit nameUnit codeDateTable 1 Northwest Delta UnitedBook treasure January 1 , 2005 75 75 75Residual 3 .75 3 .75 3 .75Depreciable consider along 71 .25 71 .25 71 .25Useful heart 25 25 25Annual dispraise 2 .85 2 .85 2 .85Accumulated Depreciation at celestial latitude 31 , 2008 11 .4 11 .4 11 .4Book Value at December 31 , 2008 63 .6 63 .6 63 .6 sales casing Price I 55 60 65Gain (Loss ) on bargain 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- relaxation value 75-3 .75 71 .25Financial accounting 2Working 3Annual derogationDepreciable amount 71 .25Useful career 25 2 .85Working 4Accumulated depreciationNumber of geezerhood annual depreciation4 2 .

85 11 .4Working 5Book value at closing curtain of 2008Book value as at Jan , 1 2005- accumulated depreciation75 - 11 .4 63 .6Question 2Companies make intention of different useful life for the same addition since distributively company has different policies concerning depreciation for the same asset . merely useful life of an asset is an estimate based on past experience or through use of an expertness in a disposed field therefore as no specific control is used in wind up of useful life so they...If you want to get a full essay, order it on our website: Ordercustompaper.com

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