skip to Main Content

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Acquisition and depreciation of long-term assets are important to understand bec

Place your order now for a similar assignment and have exceptional work written by our team of experts, At affordable rates

For This or a Similar Paper Click To Order Now

Acquisition and depreciation of long-term assets are important to understand because these assets represent a business’s largest investment of resources. Recording the correct cost for an asset can be difficult because there are many costs associated with the purchase or construction of tangible property, and there are many legal fees associated with the purchase of real property.
After assets have been acquired or constructed, they can be depreciated over a period of time. Depreciation is not meant to show the decline in the value of property. Depreciation refers to how the asset is used or charged over a period of time—its useful life. A company will record depreciation on the books in order to follow the generally accepted accounting principle (GAAP) matching principle. The matching principle occurs when expenses are matched to revenues. The revenue generated from the asset purchased is matched to depreciation expense.
Scenario
Imagine that you own or work for a business as you discuss the following information in a two- to three- page report (the two to three pages do not include the cover and reference pages):
Identify and describe your business (e.g. clothing store, landscaping business, delivery service, or restaurant).
Provide two examples of long-term assets that the business owns.
Classify the asset (i.e. building, equipment, furniture and fixtures, etc.)
What depreciation method will you use to depreciate this asset? Explain why.
How does depreciation affect the income statement and balance sheet?
Explain how depreciation might affect your decisions to purchase expensive equipment or real estate.
Support your content with at least one credible source. Please note: Wikipedia is not a credible source. Cite your sources and format your paper with APA style. You are not required to write an abstract.
Create your assignment in a Microsoft Word document. Name and save your file using the following file naming convention: YourFirst_LastName_U1_inclass_activity.

For This or a Similar Paper Click To Order Now

Why Choose Us?

Unique Papers

There is no way that you will find any copied and pasted materials in your work. We do not rewrite or recycle previously-written papers.

Super-Urgent Help

Anything can happen, and sometimes you may find that you only have a couple of hours for an essay. Even if you find this impossible, we can help.

High Quality for a Cheap Price

EssayWriting.org destroys the stereotype about professional quality and its cost. Here you will get a stunning paper for a low rate.

Reliable and Attentive Writers

You can count on your writing partner because s/he will never let you down. All of our helpers have Ph.D. and master’s degrees, professional knowledge, and advanced English language skills.

Back To Top