Examlex
A simple journal entry requires only one debit to an account and one credit to an account.
Units-Of-Activity Method
Depreciation method in which useful life is expressed in terms of the total units of production or use expected from an asset.
Depreciation Expense
The allocation of a tangible asset's cost over its useful life to account for declines in value over time.
Salvage Value
The anticipated recovery value of an asset when it no longer has usable life.
Straight-Line Method
A method of calculating depreciation by evenly allocating the cost of an asset minus its salvage value over its estimated useful life.
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