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  2. What Is Depreciation? Importance and Calculation Methods ...

    www.aol.com/finance/depreciation-importance...

    Using a straight-line depreciation method, you could deduct $16,363 from the taxable income each year for the next 27.5 years. However, you can only use this as long as you still own the property.

  3. Journal entry - Wikipedia

    en.wikipedia.org/wiki/Journal_entry

    A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the ...

  4. Depreciation - Wikipedia

    en.wikipedia.org/wiki/Depreciation

    An asset depreciation at 15% per year over 20 years. In accountancy, depreciation is a term that refers to two aspects of the same concept: first, an actual reduction in the fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the ...

  5. General journal - Wikipedia

    en.wikipedia.org/wiki/General_journal

    A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices.

  6. Revaluation of fixed assets - Wikipedia

    en.wikipedia.org/wiki/Revaluation_of_fixed_assets

    Methods such as indexation and reference to current market prices are also used. However, when these methods are used they are crosschecked with the values arrived at by using the appraisal method. When an asset is sold that has previously been revalued, the revaluation within the carrying value is debited to the Revaluation Reserve.

  7. Bookkeeping - Wikipedia

    en.wikipedia.org/wiki/Bookkeeping

    A company can maintain one journal for all transactions, or keep several journals based on similar activity (e.g., sales, cash receipts, revenue, etc.), making transactions easier to summarize and reference later. For every debit journal entry recorded, there must be an equivalent credit journal entry to maintain a balanced accounting equation ...

  8. MACRS - Wikipedia

    en.wikipedia.org/wiki/MACRS

    9. Multiply line 7 by line 8: $10,000 10. Total claimed for section 179 deduction and other items-0- 11. Subtract line 10 from line 9. This is your tentative basis for depreciation: $10,000 12. Multiply line 11 by .50 if the 50% special depreciation allowance applies. Multiply line 11 by 1.00 if the 100% special depreciation allowance applies.

  9. Online sports betting has trickled down to high school football

    www.aol.com/sports/online-sports-betting...

    The game has a betting line. Offshore gaming site BetOnline initially anointed undefeated North Crowley a four-point favorite over once-beaten Westlake and has since increased the spread to 5.5.