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10 cards from this deck
Items owned & used for years to generate income (e.g. machinery)
Gradual decline in value of fixed assets over useful life
Same depreciation amount charged each year
Higher depreciation early, applied to remaining book value
Cost of Asset−Accumulated Depreciation\text{Cost of Asset} - \text{Accumulated Depreciation}Cost of Asset−Accumulated Depreciation
Tracks total depreciation charged on asset over time
Credit balance >>> debit balance in disposal account
Land and buildings (may increase in value)
Records increase in asset value from revaluation
Non-cash expense
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