Homework answers / question archive / Module 6Accounting for Assets: Plant, Property, & Equipment (PP&E) and Investments BluJay Aviation BluJay Aviation: Episode 8 In this episode of BluJay Aviation, Wren and Brad discuss changing how the aircraft is depreciated

Module 6Accounting for Assets: Plant, Property, & Equipment (PP&E) and Investments BluJay Aviation BluJay Aviation: Episode 8 In this episode of BluJay Aviation, Wren and Brad discuss changing how the aircraft is depreciated

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Module 6Accounting for Assets: Plant, Property, & Equipment (PP&E) and Investments

BluJay Aviation

BluJay Aviation: Episode 8

In this episode of BluJay Aviation, Wren and Brad discuss changing how the aircraft is depreciated.

Watch BluJay Aviation - Episode 8, and then complete the quiz.

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Useful life1 of 8.

Salvage value2 of 8.

Straight-line method3 of 8.

Depreciation method4 of 8.

Double-declining balance method5 of 8.

Units of Activity method6 of 8.

Depreciable cost7 of 8.

Cost8 of 8.

 – The historical cost of a fixed asset being depreciated

 – An estimate of the value of a fixed asset at the end of its useful life

 – The difference between an asset’s cost and its salvage value

 – The length of time a fixed asst is expected to be used in operations

 – The method used to calculate depreciation expense.

 – A depreciation method that results in the same amount of depreciation expense each year of the asset’s useful life.

 – A depreciation method that accelerates depreciation expense in the early years of an asset’s life.

 – A depreciation method in which depreciation expense is a function of the actual use of the asset.

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D

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future1 of 2.

past2 of 2.

When actual experience shows that a past estimate was incorrect, accountants change the  estimate instead of correcting the .

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Because classifying expenditures as capital or revenue is subjective, two accountants may classify the same expenditure differently.

True

False

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revenue1 of 2.

capital2 of 2.

A  expenditure is an expenditure that increase the expected useful life or productivity of a fixed asset.

A  expenditure is an expenditure that maintains the expected useful life or productivity of a fixed asset.