In the calculation of depreciation expense, the salvage value of an asset is an estimated amount, and the estimated amount is often zero. With the common assumption of no salvage value, the entire cost of an asset used in a business will be depreciated over the asset's useful life.
How do you calculate an asset's salvage value?
- What is scrap value?
- What is the accounting treatment for an asset that is fully depreciated, but continues to be used in a business?
- How much do you depreciate an asset and when?
- What is salvage value?
- What are the accounting entries for a fully depreciated car?
- If cash and a note are exchanged for a plant asset, is the amount of the note used in the depreciation calculation?
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