Accounting 10, 20, 30
Course Configurations
Examine depreciation of fixed assets through journals and fixed asset records.
Indicators for this outcome
| (a) | Describe the function of depreciation as connected to journal entries. |
| (b) | Identify accounting concepts, principles, and practices (e.g., historical cost, matching revenue expenses, obsolescence, salvage value, book value) related to fixed assets. |
| (c) | Define fixed assets and describe how the amount of depreciation is calculated. |
| (d) | Analyze how accounting for depreciation affects fixed assets. |
| (e) | Compute the amount of estimated depreciation expense and prepare journal entries using the straight-line method of depreciation for full and partial years. |
| (f) | Explore and differentiate methods such as declining- balance, sum-of-the-years digits, production-unit method, and capital cost allowance for calculating depreciation. |
| (g) | Prepare journal entries for the disposal of fixed assets which have an accumulated depreciation account, calculating for each situation, disposing for a gain, a loss and at book value. |
| (h) | Calculate and record depreciation of fixed assets in a journal and fixed asset records. |
Loading...
