Create an account
When should cost be capitalized
is the useful life is increased, quality increased, or quantity increased.
what do you recognized in the subsition approach?
recognize a gain or a loss for the difference in value
how does substition approach work?
removes the old asset from the balance sheet and capitalize the cost of the new asset.
how does "charge accumulated depreciaton" work?
debit accumulated depreciation when expenditure extends the useful life asset instead of enhancing the quantity or quality of its output.
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