Objectives 4, 6 and 7 Matching: 5. 1. 2. 6. id 3. Accumulated Depreciation Adjusted trial balance Book value of the asset (Net book value) Contra accounts (Contra asset accounts) 7. Depreciate Depreciation Depreciation Expense Fixed Assets (Plant assets) Vertical analysis 8. 4. 9. A. An account offset against another account. B. An analysis that compares each item in a current statement with a total amount within the same statement. C. Long-term or relatively permanent tangible assets such as equipment, machinery, and buildings that are used in the normal business operations and that depreciate over time. D. The contra asset account credited when recording the depreciation of a fixed asset. E. The difference between the cost of a fixed asset and its accumulated depreciation F. The portion of the cost of a fixed asset that is recorded as an expense each year of its useful life. G. The systematic periodic transfer of the cost of a fixed asset to an expense account during its expected useful life. H. The trial balance prepared after all the adjusting entries have been posted. 1. To lose usefulness as all fixed assets except land do