Question: What type of long lived assets are not depreciated and
What type of long- lived assets are not depreciated, and why?
Answer to relevant QuestionsWhy is disclosure of depreciation or amortization methods and rates so important?For what purpose are assets separated into components and depreciated by component?If revaluation accounting is used, how are revaluation decreases and increases treated?Innovative Incorporated has a piece of equipment with a carrying amount of $ 175,000. Technology has changed, indicating that the machine may be impaired. A new machine with updated technology could be purchased for $ ...Mace Company acquired equipment with compo-nents that are not significant and cost $ 36,000, which will be depreciated on the assumption that they will last six years and have a $ 2,400 residual value. Several possible ...
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