Why do weneed the Accumulated Depreciation Account?
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Please discuss the nature of measurement and the reasons why weneed and adopt measurement in accounting
We don't seem to have enough administrative agencies. Can youthink of an agency that we could add? Be sure and give detailsabout the responsibilities and powers of this agency and why weneed it. (Feel free to use your imagination here.)
Why is the balance in the Depreciation Expense account generally different from the balance in the Accumulated Depreciation account?
a) The adjusting entry contains a different amount for Depreciation Expense and Accumulated Depreciation.
Depreciation expense only reflects the current period depreciation. Accumulated Depreciation contains depreciation since the asset was purchased.
The Accumulated Depreciation account contains the value of the long-lived asset as well as the depreciation.
d) The balances in the two accounts should be the same amount.
