Question
On Jan 1, 2012, Suntory Company purchased a stamping machine for $100,000. It had an estimated useful life of 5 years and a disposal value
On Jan 1, 2012, Suntory Company purchased a stamping machine for $100,000. It had an estimated useful life of 5 years and a disposal value of $10,000. The machine is depreciated on a straight-line basis and on dec 31, 2016, it is sold for $20,000.
The fact that the machine is recorded as an asset on January 1, 2012, and depreciated - or recorded as an expense - over time, is a reflection of the _______ concept.
- materiality
- matching
- conservatism
- consistency
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
