Going into my year 2 midterm today in uni, never quite understood all of the depreciation methods more than I do now thanks to you. Keep ‘er goin man, saving kids’ lives out here ❤️
Awesome. So glad I was able to clarify this for you! I have 13 videos on PP&E if you are interested in learning more: edspira.com/lessons/property-plant-equipment Thanks for watching!
Crystal clear!, just one question, in the second case, we need to know the salvage value, at least before the end of the first year (since we bought the oven), in order to know how to compute the depreciation, right?
How to calculate using the same method when the disposal value and useful life is not given. For example if all vehicles are to be depreciated at 20% using the straight line method. 20% of the cost will be the constant depreciation ? And if the vehicle is borough half way in the year the depreciation will be half of the 20% ?
I'm assuming that you are trying to solve a homework problem. If you are told that depreciation will be 20% per year, then you can assume that the useful life is 5 because 1/5=20%. If a salvage value isn't given, then I would probably assume that it is zero. If this is a business question on how to determine a useful life and salvage value for the vehicle, then let me know. This is a little more complicated and would require a longer response. Thanks for watching!
My professor gave me a question where they provide shipping cost and asks to depreciate using straight line method. Do i just ignore shipping costs or should i include it to the cost of the purchase of equipment to depreciate?
In my last year of accounting bachelor's degree program, you have been a part of most of it. Great work sir. Much appreciated.
Going into my year 2 midterm today in uni, never quite understood all of the depreciation methods more than I do now thanks to you. Keep ‘er goin man, saving kids’ lives out here ❤️
Learned this in 8 minutes compared to my 2.5 hour class! Thank you soo much!
Glad it helped!
I like how clearly you explain this you were born to teach well done
Thanks. When I see your video for my search subject, I become comfort.
You are amazing! I was totally confused why my calculations were wrong, but no I understand why! I found other videos helpful as well! THANK YOU!
Awesome. So glad I was able to clarify this for you! I have 13 videos on PP&E if you are interested in learning more: edspira.com/lessons/property-plant-equipment Thanks for watching!
Thank you so much, your video is the most useful and most easy to understood. More power to you
You are welcome!
Keep going you legend
My God blessed your day
You safed my whole life I OWE YOU ON THAT
THANKS ALOT ✨💐
This was super helpful! Is there a video that includes how to find the depreciation expense if the useful life changes?
thank you for explaining salvage value..
Happy to help!
Crystal clear!, just one question, in the second case, we need to know the salvage value, at least before the end of the first year (since we bought the oven), in order to know how to compute the depreciation, right?
Best tutorial, Thank you!
Thank you so much sir. You save my life 😭
Was actually able to use this for my Dietitian exam, THANK YOU
Interesting to see how depreciation can be used to present different profits and tax liabilities.
You ever is reading this you’re gonna do great on that exam🥰God has got your back
Thank you 💕😊
Excellent job
Thank you!
thank you my exam is in 2 hours and now i finally understand haha
What a breakdown! Thank you! You made it so easy.
How to calculate using the same method when the disposal value and useful life is not given. For example if all vehicles are to be depreciated at 20% using the straight line method. 20% of the cost will be the constant depreciation ? And if the vehicle is borough half way in the year the depreciation will be half of the 20% ?
I'm assuming that you are trying to solve a homework problem. If you are told that depreciation will be 20% per year, then you can assume that the useful life is 5 because 1/5=20%. If a salvage value isn't given, then I would probably assume that it is zero. If this is a business question on how to determine a useful life and salvage value for the vehicle, then let me know. This is a little more complicated and would require a longer response. Thanks for watching!
Thank you so much! I'm awaiting your videos!
Gosh I appreciate this. It helps that his voice reminds me of Hades from Hercules. :)
HA...I'll have to look up a clip of Hercules.
Thank you, this has helped alot!
My professor gave me a question where they provide shipping cost and asks to depreciate using straight line method. Do i just ignore shipping costs or should i include it to the cost of the purchase of equipment to depreciate?
Nice video, thanks 🤚
yes scrap and salvage value same.
What happens if our EUL changes? what if a machine's EUL was 6 years and it was disposed of at the end of year 5?
what about property? like if you are using a home office
thank you for the lesson
Sir thank you very much.very helpful
i thought this was khan Academy from the thumbnail
Sir. Would u please make a video about MACRS depreciation method? I'm so very confused rn
Thanks very much. Big help!
You're very welcome!
Thank you for this.
You are so great !!!!
What do you do if you’re not given a residual value
What about double entry depreciation ?
Residual value the same as salvage value?
Justin Kingsbury more or less. Yes.
Its the value if the item at the end of x amount of years.
I would I record this on the income statement as depreciation expense every year at $10,000?
yup!
Thank you very much! This was helpful
Thank u
Sure thing!
is scrap value and salvage value the same?
Yes
we gang fs
Allow me to use your example
That is one expensive Pizza Oven you got there
I only go with the highest quality 😀
helpful
Anybody else get distracted by the pizza not the problem?
Backbenchers are here...
Thank you so much for that...great explanation