Vocab
This is the amount a business expects to recover at the end of a plant asset's useful life.
What is estimated disposal value?
To find the "Amount to be Depreciated," you take the Original Cost and subtract this.
What is estimated disposal value?
If an asset is purchased on January 5, it is considered owned for this many months during the first year.
What is 12 months?
This specific date is typically used for the "End of Year" depreciation entries in a plant asset record.
What is December 31?
According to Spotify data, this podcaster held the top spot in 2025
Joe Rogan
The total amount of depreciation that has been recorded for an asset up to a specific point in time.
What is accumulated depreciation?
If a truck costs $16,500 and has a disposal value of $1,500, this is the total amount to be depreciated.
What is $15,000?
Even though April is the 4th month, an asset bought on April 5 is depreciated for this many months in its first year.
What is 9 months?
Under the straight-line method, an asset's book value can never be depreciated below this amount.
What is the estimated disposal value?
He was often referred to as "the father of the atomic bomb" and became a major historical talking point in the mid-2020s.
Oppenheimer
This value is calculated by taking the original cost of an asset and subtracting its accumulated depreciation.
What is book value?
This is the depreciation rate per year for an asset with a 5-year useful life.
What is 20%?
To calculate partial-year depreciation, you multiply the annual expense by a fraction with this number as the denominator.
What is 12?
If a truck's annual depreciation is $3,000, this is the accumulated depreciation at the end of the third full year.
What is $9,000?
This natural substance on earth is made purely of carbon atoms.
diamonds
Items like delivery trucks, computers, and office furniture that are expected to be used for more than one year.
What are plant assets?
A cash register costs $450 with a $30 disposal value. Over 7 years, this is its annual depreciation expense.
What is $60? ($420 / 7 years)
A delivery truck has an annual depreciation of $3,000. If it is owned for only 3 months in the first year, this is the expense.
What is $750? ($3,000 x 3/12)
When recording the original price of equipment is recorded as this in a journal entry.
Debit
This insect has the best eyesight, with compound eyes containing up to 30,000 lenses.
Dragonfly
The period of time an asset is expected to help generate revenue for a business.
What is estimated useful life?
Office furniture worth $45,000 has a 10% disposal value. This is the "Amount to be Depreciated."
What is $40,500? ($45,000 - $4,500)
A Xerox Copier is purchased on 10/1/2011. This is the "Fraction of Year" used for its 2011 depreciation calculation.
What is 3/12 (or 1/4)?
A conference table has an original cost of $1,900 and accumulated depreciation of $180. This is its current book value.
What is $1,720?
In 2025, this artist's music video moment involved her visiting space while holding a flower.
Katy Perry