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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

Accounting

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.

Drag the words into the correct boxes

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.


D

rag the words into the correct boxes

future1 of 2.

past2 of 2.

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


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

True

False


Drag the words into the correct boxes

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.

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