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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Under what circumstances are straight-line and accelerated methods of depreciation most appropriate?

To determine

Describe the circumstances under which the straight-line and accelerated methods of depreciation would be most appropriate.

Explanation

Accelerated depreciation method: This depreciation method allows to record higher depreciation expense in the early years of the useful life of the asset, thereby, reducing the book value of the asset at a faster rate.

Straight-line depreciation method: The depreciation method which assumes that the consumption of economic benefits of long-term asset could be distributed equally throughout the useful life of the asset is referred to as straight-line method.

Describe the circumstances under which the straight-line and accelerated methods of depreciation would be most appropriate as follows:

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