LEARNING OBJECTIVES

LO1

Explain the nature and purpose of depreciation

with example

LO2

Explain the formula used to calculate depreciation using the straight-line, declining-balance, sum-of-the-years'- digits.

with wexample

LO3

Explain how to account for the disposition of property, plant, and equipment.

with exaple

LO4

Explain the nature of, purpose of, and accounting for depletion.

With eample