ch.10 week 4 depreciation methods

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Summary

In this lesson by Professor Sam Lami, various depreciation methods for long-term assets are discussed, which are crucial in financial accounting. The session covers four main depreciation techniques: straight-line, units of production, double declining balance, and sum of years' digits, though this last one is not expounded upon here. The focus is on understanding the accounting implications of these methods. The tutorial also explains handling depreciation for both accounting and tax purposes separately and touches upon partial-year calculations and handling of natural resources through the depletion method.

Highlights

Understanding multiple ways of depreciating assets in accounting is crucial for financial management. 📚
Straight-line depreciation offers consistency and ease of calculation across the asset's lifespan. 🛠️
In contrast, units of production varies yearly based on actual use, fitting well with resource management. ⛏️
Double declining balance is popular for its aggressive depreciation style, but balances out over time. 💼
Companies must manage both accounting and tax records separately, which can become complex. 📊
Depreciation adjustments are needed for assets acquired partway through a year, impacting calculations. 🔄
The tutorial touches on amortization and depletion as related concepts for different asset types. 🔍

Key Takeaways

Depreciation can be calculated using multiple methods: straight-line, units of production, and double declining balance. 🤓
Straight-line depreciation is the most straightforward and commonly used method, giving the same amount every year. ⏳
Units of production is based on actual usage, making it unpredictable but perfect for natural resources. 🌍
Double declining balance frontloads expenses, giving a larger deduction in early years. ⚡
No matter the method, total depreciation amount cannot exceed the initial cost minus salvage value. 🚫
Partial-year depreciation requires adjusting calculations to match the time asset is in use. 🕒
Depletion is akin to depreciation but for natural resources, often using similar accounting entries. 🌱

Overview

Professor Sam Lami dives deep into the world of depreciation methods, detailing the intricacies of calculating asset depreciation in the context of financial management. He introduces the straight-line method, known for its simplicity and uniformity across the asset's useful life, making it the most popular choice among companies. This technique ensures consistent write-offs, which helps in straightforward financial forecasting.

Next, he explains the units of production method, which deviates from the fixed timeline concept by linking depreciation to actual usage. This method sees variances in annual depreciation amounts and is especially applicable to industries where asset utility is measured in units of production, like factories or companies dealing with natural resources.

Lastly, the double declining balance technique offers a more aggressive approach by frontloading depreciation expenses, preferred by businesses aiming to reduce tax liabilities initially. The lesson underscores the necessity of managing separate records for accounting and tax purposes, a challenging but crucial aspect for sound financial governance. Partial-year depreciation is also touched upon, highlighting the need for adapting calculations when assets aren't in use year-round.

Chapters

00:00 - 01:30: Introduction and Overview The chapter titled 'Introduction and Overview' features Professor Sam Lami who discusses the concept of depreciation. The discussion aims to clarify that there are multiple methods companies can use to depreciate their fixed or long-term assets, which are sometimes also referred to as plant assets. The professor sets the stage for a deeper exploration into the subject.
01:30 - 03:00: Depreciation Techniques The chapter explores different techniques for depreciating long-term assets, which are assets expected to last more than a year. It introduces two methods used in accounting to depreciate these assets: straight-line depreciation and units of activity depreciation. These methods help companies systematically write off their long-term assets over time.
03:00 - 06:30: Straight Line Depreciation The chapter titled 'Straight Line Depreciation' appears to be part of a larger discussion on depreciation methods. The transcript mentions different techniques for calculating depreciation, including the units of production method, the double declining balance method, and the sum of the year's digits method. It is suggested that the focus will remain on the straight-line depreciation method while briefly acknowledging these other techniques.
06:30 - 18:00: Units of Production Method This chapter introduces various methods of accounting depreciation, with a particular focus on the tax method known as MACRS (Modified Accelerated Cost Recovery System), which differs from standard accounting methods. It emphasizes the importance for businesses to track depreciation accurately according to accounting standards.
18:00 - 28:00: Double Declining Balance Method The chapter discusses the complexities involved in accounting for depreciation, specifically the need to maintain separate records for accounting and tax purposes, an issue that has remained unaddressed for many years. The narrator expresses frustration over this inefficiency. The chapter introduces three depreciation methods, with a brief mention of the straight line method being the easiest among them.
28:00 - 43:00: Full Year vs Partial Year Depreciation The chapter titled 'Full Year vs Partial Year Depreciation' discusses different methods of depreciation, focusing primarily on straight line depreciation due to its simplicity and consistency. It explains how straight line depreciation results in uniform depreciation charges over the asset's useful life, making it a favorable choice for many. Additionally, the chapter briefly mentions the concept of units of activity or units of production method, highlighting its different approach to calculating depreciation.
43:00 - 45:00: Depletion and Amortization The chapter titled 'Depletion and Amortization' discusses the concept of depreciation based on usage rather than time. It explains that the depreciation calculation can be based on various units such as copies made, miles driven, or other usage metrics. The chapter points out that this method often leads to different annual results compared to the straight-line method, and achieving the same result each year is more coincidental than systematic.
45:00 - 46:00: Conclusion In conclusion, the chapter explains various methods of depreciation and depletion used in accounting, particularly focusing on natural resources. It covers three primary methods: the units of activity or units of production method, which is relevant for natural resources and serves for both depletion and depreciation; and the double declining balance method, a form of accelerated depreciation. Each method has its specific applications and advantages, offering flexibility in handling depreciation in accounting.

ch.10 week 4 depreciation methods Transcription

00:00 - 00:30 okay well hello everybody this is Professor Sam Lami again and today we're going to talk about depreciation so let me just write that down here and just so you know there are actually multiple ways that companies can depreciate their fixed assets or long-term assets as some people call them in fact some people even call them plant assets but I'll refer to them as our long-term assets and remember the
00:30 - 01:00 definition of a long-term asset is an asset you expect to last for more than a year so typically those assets the way companies write them off is that they depreciate them so there are a few techniques that are used in the accounting realm one is called the straight line depreciation a second one is called units of activity
01:00 - 01:30 some people call it units of production and then there's a third technique called the double declining balance method and there's actually a fourth one which is called some of the year's digits but usually that's found in some intermediate book so we'll just focus on
01:30 - 02:00 these three accounting ones uh there's also a tax style of depreciating which is different than the accounting style and the tax one is called makers modified accelerated cost recovery system so just uh throw that out there that if you are you know running a business you got to keep track of your depreciation under accounting procedure fees which is one of these three and in
02:00 - 02:30 addition you have to record depreciation separately for accounting for text purposes so you got to kind of keep two separate set of books which is absolutely insane this is something that needs to be addressed and should have been addressed over the last I don't know half century and still is not but I guess uh don't shoot the messenger here I guess so let's talk about these three techniques I'd have to tell you that straight line is probably the easiest of
02:30 - 03:00 the three it is the most commonly used one because of its ease uh and what you can expect with straight line depreciation is that you'll get a similar answer year after year after year so once you calculate the depreciation you can use that amount every year of that asset's life units of activity or units of production this technique uh basically has nothing to do
03:00 - 03:30 with time and everything to do with usage so however many units you use how many copies you make how many miles you drive whatever the the unit uh distinction happens to be then uh you use that to help you calculate your depreciation um one thing that is unique about it is that you usually don't get the same results every year as you do under straight line if you do it's more of a coincidence
03:30 - 04:00 in addition this units of activity or units of production method it is used when you are dealing with natural resources and you are depleting the units of activity method is used when it comes to depletion as well as depreciation so it kind of wears two hats and then you have the third one which is the double declining balance method this method is an accelerated depreciation method
04:00 - 04:30 which means you get to take a lot of depreciation in the earlier years but then you don't have that much left towards the end so you kind of have to roll the dice a little bit but I can tell you no matter which technique you use you will get the same total amount of depreciation it's just that how is it spread out so let's talk about an example here so let's come up with one here let's say we have cost being
04:30 - 05:00 $100,000 and let's say this fake item that we have has a salvage value now salvage value is kind of like what would you get for it at the end of its life if you were to trade it in or sell it so what what is its value at the end of its life let's pretend we can get 10 grand for it and let's also assume that the estimated life
05:00 - 05:30 we'll make it uh five years or 50,000 units and then we can also do the second technique based on that so we'll call this our data box and we'll kind of keep this over to the side here and we may need to add a few little bit more tidbits so if you're
05:30 - 06:00 copying this or writing it as I go uh you might want to uh leave a little space for yourself okay so you can add a little bit more data as we go along okay so if I want to do the straight line depreciation method the abbreviation for straight line by the way is SL units of activity usually goes by UA if you're using the term units of production we typically see
06:00 - 06:30 up and the double declining balance method that's ddb those are just some common abbreviations for those titles so when it comes to straight line let's do straight line down here the formula to do straight line is you take your original cost and you subtract out your salvage value and you divide it by your estimated life in years so estimated
06:30 - 07:00 life in years that's the formula so if we take the data that was given we're going to take in the numerator $100,000 and subtract the salvage value of $10,000 and then we're going to divide that by five years clean up the top come out to $90,000 on the top and we're going to divide that by
07:00 - 07:30 five years and if you do that math you would have come up with $188,000 so every single year for the next five years you'll be able to write off $188,000 the adjusting entry that would be made for this information and remember that's ultimately the goal of why we're doing
07:30 - 08:00 this as a company is we're trying to figure out what is the write-off that we're were're able to get so a company would debit something called depreciation expense you may remember this from you know uh chapter three of accounting where you learned about adjusting entries and you may have actually used this particular uh straight line technique then so this probably is a review
08:00 - 08:30 and you would credit something called accumulated depreciation for that same $188,000 okay so no matter what answers we get from these other ones you ultimately will have to do this journal entry it's just that your amounts May differ from each technique that we do so we'll just put this in green and we'll keep it over here uh over to the side while I'm added here let me uh come
08:30 - 09:00 up with a little little table we'll go um SL for straight line up for units of production ddb for double declining balance and over here we'll have a vertical column called year so year one year two year three year four four and year
09:00 - 09:30 five and as we just discovered we would end up with $18,000 every year whoops let's try that again see if I can take that shortcut it still won't let me do it that's okay but bottom line is we're going to get $188,000 every year and what I want to point out is that if we were to Total all of
09:30 - 10:00 these no matter what technique I share with you the total will be 90 so in other words Max depreciation you can never have more than the Max and Max depreciation is cost minus the salvage value so 100 minus the 10 so if you're wondering how I came up with 9 90 so fast it's just
10:00 - 10:30 that I looked over here and went 100 minus 10 but I can double check that and go 18 * 5 and that also will give me 90 but no matter what technique we deal with here you're always going to have $90,000 as the max you can't have more than that so a lot of people say hey let me pick this double declining balance method because I get a lot of depreciation early yeah but I get a lot less later no matter how I slice it
10:30 - 11:00 990,000 is the most I can have under each of these techniques so really just boils down to how do you want to split up that 90 over these particular periods okay so just want to throw that out there so that nobody is shocked when we see some of these results Okay so we've done straight line let's do all these techniques in a particular color so that they stand out so now let's do units of
11:00 - 11:30 production units of production is very similar or units of activity however you want to call it is very similar to straight line so you're going to go costs original cost minus the salvage value and you're going to divide it by the estimated life just like before except this time the estimated life is in units and the result of doing this
11:30 - 12:00 will give us basically a unit rate or a depreciation rate like $5 per unit $10 an hour like our like our hourly wages those are unit rates so this is like a two-step process so once you know your depreciation rate you will then take that depreciation rate let me move it down to here and you will then multip multiply that depreciation rate by the actual
12:00 - 12:30 units in that particular Year and that will give you your depreciation so this one requires us to do it in two steps okay so in order to help us let me add some more information here let's go uh over here we'll write actual units remember we had estimated like was 5 years or 50,000 let's put an or
12:30 - 13:00 there just so we don't get confused later on so that was the actual data and now I'm going to give you actual units so let's say in year one year two and year three even though this thing may have a fiveyear life it doesn't mean that the actual units always concur let's make this go to four
13:00 - 13:30 years so let's say in the first year I'll use 50,000 as my base let's say in the first year this machine used 10,000 units let's say in the second year it used 15,000 let's say in the third year it used 15,000 and let's say in the last year it used 10,000 now I don't know what they actually are but we're just pretending
13:30 - 14:00 those are the actual uh amounts in those particular years okay so that information would be given to you if you're wondering how would I know that it would be given so what we're going to do is in year one you're going to take your cost minus Salvage remember we did cost minus Salvage salvage value over here so 100 minus 10 so we're going to have $90,000 in the numerator
14:00 - 14:30 and we're going to divide that by the estimated life which is the 50,000 units and when you do that you come up with A180 per unit that is the depreciation unit rate you would then multiply this unit rate by the actual
14:30 - 15:00 units so remember the 10,000 that we had here and then I'm just going to copy the results all the way down so in all of these scenarios year one two three four and five if there was a fifth year I would be doing the same thing
15:00 - 15:30 I'm just going to change the the number here this is your two this is your three and this is your four so just copy and paste it a little bit so notice that in your 1 two three and four and if it was longer than that I would have continued but once I calculate the1 80 that1 80 is fixed for the life of that asset okay so you're now going to take that
15:30 - 16:00 $180 and basically just multiply that by the units so we're going to take 10,000 multiply by 1.80 and you get 18,000 and let's see if it'll do this math for me now it does how nice so notice in this particular case whoops
16:00 - 16:30 that I get $188,000 of depreciation the first year which just coincidentally happens the equal what we got for straight line but I made up that 10,000 don't forget it may really have been 9,220 who knows but the bottom line is I'm going to take these numbers and I'm going to move them to my little chart and we are going to double check the fact that do we really end up
16:30 - 17:00 with 990,000 and let's do a little equal sum and we're going to add up this column and notice it does equal 990,000 so I was able to get to 990,000 within four years in this particular case but remember I'm not allowed to take more than 90 in this particular scenario okay so I just don't want you to um be you know misled by what's happening here no matter what technique
17:00 - 17:30 I use whether it's straight line units of production or double declining the most I'm allowed is whatever costs minus salvages that's my Max depreciation okay so now we've done units of production and we've also done straight line and just so you know I am doing this under a scenario which is a full year and I'm going to show you how to do
17:30 - 18:00 this exact same stuff under partial year once I'm done with this example so right now these are the answers for partial year and by the way this little adjusting entry that I did here if I was doing it for units of production I would do this entry in year one for 18 in year two I would do it for 27 year three I would do it for 27 and in year four I would do it for 18 so whatever amounts we ended up with we'll end up in our adjusting entry now
18:00 - 18:30 a company is not going to do both of these they're going to choose which technique they want to use so they're going to figure out what seems to be the best way for us to write our costs off and they're going to pick one and go with it or they could pick this other technique which is the double declining balance method this one you have to do year one to get to year two you got to do year two to get to year three so you can't
18:30 - 19:00 just jump around like in straight line and units of production you can't just automatically do that so you have to go in the right sequence so in year One what we're going to do is we're going to come up with a formula that will kind of help us do this technique and it goes something like this you're going to take your original
19:00 - 19:30 cost again but this time instead of subtracting out salvage value you're going to be taking out your accumulated depreciation so definitely a different starting point to this and the result of doing this little calculation is something we call Book value you would then take your book value and you would multiply it by another type of depreciation rate except
19:30 - 20:00 this one is our double declining balance rate going to take this rate and we're going to multiply it excuse me um we're going to multiply it by the book value and that will give us our depreciation for a full year so take your book value multiply it by your double declining balance rate and that'll give you your depreciation ation for the full year how
20:00 - 20:30 do you get this double declining balance rate well it's actually not that hard first thing you need to know is that the double declining balance rate is basically the doubling of the straight line rate so if you know your straight line rate all you got to do is double it how do you get a straight line rate well let me show you let me do that over here you get the straight line rate by taking the number 100% and dividing it by the estimated life in
20:30 - 21:00 years so in our example if we take the number 100% what's our estimated life if you look at the yellow box where our data was our estimated life in years was five years so if you take 100% divided by five years you basically get 20% per year so that that means your straight line rate is
21:00 - 21:30 20% so in other words if you were to look at your hand right now and hold up all five of your fingers assuming you have them all um and you were to just say take your pinky that's 20% Then the finger above that that's 20% your middle finger that's 20% index finger 20% your thumb 20% 20 Time 5 100% so something that has a fiveyear life depreciates at a 20% clip so if I now say so what's your
21:30 - 22:00 double declining balance rate will double the 20% so your ddb rate would be 20% time 2 which is 40% so that's the rate that you're going to use every year in this calculation remember in the units of production we used a dollar 80 for every year that was
22:00 - 22:30 fixed now what's going to be fixed in this technique is the the rate let me get rid of this one here it's bothering me okay let's put the one here okay so let's go through this example we've got our original cost of $100,000 and under this technique we have yet to depreciate so in the first year you're accumulated depreciation is
22:30 - 23:00 zero in this initial computation so therefore the first time you calculate depreciation you're using 100,000 because 100 minus 0 is 100 you will then take that 100,000 and you will multiply it by your double declining balance rate and you get 40 Grand so in this technique a company us using double declining balance will end up with
23:00 - 23:30 $40,000 as their first Year's depreciation you can see that a lot of people would like that right you get almost half of it right out of the way but it then tapers off to almost nothing as you go further and further so let's go down to year two 100,000 let's subtract down the 40,000 that we just
23:30 - 24:00 calculated that's going to give us 60,000 and we're going to multiply that by 40% and when you multiply 60,000 times 40% that's going to give you 24,000 still doing pretty good compared to straight line at this stage but remember no matter what I can't go over 90 at least in this example because I get 90 from taking my original
24:00 - 24:30 cost minus my salvage value so now we go to year three in year three again I start with the original cost of 100,000 my accumulated depreciation is how much now how much is my accumulated depreciation if you said 24 that's incorrect 24 is my depreciation from last year 40 was from the first year so my accumulated
24:30 - 25:00 depreciation is 64,000 because it's accumulated depreciation right so that's going to give us 36,000 which will now multiply by 40% and let me take out my calculator actually I don't need to take out my calculator I can do it right here so 36,000 multiplied by .40 that's going to give me
25:00 - 25:30 $14,400 as my depreciation for year three so let's go put it over here okay so now let's go into year four in year four again I start with my original cost 100,000 and I want to subtract out my accumul ated depreciation now it's the
25:30 - 26:00 40 plus the 24 plus the 144 so that's going to give me 784 and I now want to subtract that 784 from the 100,000 that's going to give me 21,600 want to multiply that 216 by 40% and let's see what it gives us this time
26:00 - 26:30 so 784 oops do that there we go so 70 uh 84 we subtracted from the 100 that gave us 216 so 216 multipli by the 40% that's going to give us 8640 8640
26:30 - 27:00 okay so let's take a quick little pulse of how much we have so far so if I were to add up all of my numbers to this point you will notice I'm already at 87,040 okay that means I only have 2,900 60 left to go if I were to continue
27:00 - 27:30 using the approach that I've used in your 1 two 3 and four when I go to do it in year five the result is going to be higher than 2960 so what I'll do in this final year is just plug in this 2960 because if I used the numbers that I would get with the math it would put me over my allotted number so I have to co I have to basically put in 2960 I can't put
27:30 - 28:00 anything higher than that so if you went through and followed through with this you would see we would actually end up with something like five or $6,000 and I wouldn't be able to use it okay so let's put this in blue and that is the double declining balance method so these are the three techniques that you're responsible for in your ch chapter for depreciation now the answers
28:00 - 28:30 that we have come up with would be for a full year if you bought the asset at some other point other than January beginning of January then you would have to do things under a partial year okay so what we're going to do is I'm going to redo the same example it won't take as long because a lot of the information is the same in fact exactly the same is the units of production method this method right here is not
28:30 - 29:00 affected by time so if you were asked to do a problem for you know an asset that you bought in let's say September these answers would be the exact same thing as they are in January because it's not based on time it's based on activity so the up method uh is unaffected by time so the only two that we're going to focus on are are the straight line and double declining
29:00 - 29:30 balance method so let's rewrite this data let's go over here just move it down to here okay so here's our data the only thing I'm going to change is I'm going to add a little piece to this and the piece will be let's assume we got it let's make it October
29:30 - 30:00 1st so that's the only change is this October 1 issue okay so if you take our cost minus Salvage divided by estimated life like we did before so again you're going to go 100,000 minus 10 it's going to give us 990,000 in the numerator and we're going to divide it by the five years just like before it's going to give us
30:00 - 30:30 18,000 just like before okay here's the difference though in that first year I didn't have it for the whole year I got it October 1st so I only had it for all of October all of November all of December I had it for only three months out of the 12 months in the
30:30 - 31:00 year okay and I need to change that so instead of getting 18,000 in the first year I'm only allowed a quarter of that so basically on my calculator I'm going to go 18,000 time 3 divided by four and I
31:00 - 31:30 get not that that's not right let's try that again let's take 18,000 we're going to multiply it by three and we're going to divide by 12 not four there we go $4500 so in the first year instead of being able to write off $ 18,000 this company would only be able to write off 4500 okay that would be year one year year two they would get the full 18,000 year three they would get the
31:30 - 32:00 full 18,000 year four they would get the full 18,000 year five they would get the full 18,000 and believe it or not they would be able to go into a sixth year and recoup those nine months that they lost out on in the first year so it's not like it went to waste so
32:00 - 32:30 we're going to take 18,000 and we're going to multiply that by 9/ by 12 and then there is the amount 13,500 in a sixth year so if I put this up here this would be Year One year two year three year four year five
32:30 - 33:00 and I get to go into a sixth year to recover the amount that I was entitled to remember I'm entitled to $90,000 worth of depreciation so let's see if we were able to get there and we did okay
33:00 - 33:30 so if I hadn't taken the other you know nine months here if I hadn't taken the other nine months I would have fallen short of my $90,000 so under a partial year in the first year I get less but I get I get to go into an extra year to recoup the months that I missed in that first year so this is straight line under a partial year
33:30 - 34:00 scenario okay and what made it partial year was the fact that it was acquired and put in use in October all right hopefully that makes sense to you as I said earlier
34:00 - 34:30 the units of production method the answers would be exactly the same completely unaffected by time but what about double declining under double declining let me move this over a little bit here so that I can do it right next to it under double declining let's put here
34:30 - 35:00 full year full year example genan one and over here we'll do partial year example we'll go October 1st again all right so let me copy all of this
35:00 - 35:30 information okay so now in year one everything is the same up until that 40,000 except now what I'm going to do is I'm going to multiply that by three months out of 12 so instead of multiplying it by 100% or 12 months out of 12 even though I didn't actually show that before it was assumed this time we're only allowed three months worth of
35:30 - 36:00 depreciation so I'm going to take 40,000 multiply it by three and divide it by 12 and my amount of depreciation allowed in year 1 is $10,000 compared to the 40 that I had for a full year but I only had it for three months so I can't take 12 months worth of depreciation that's cheating so I go into year two and again looks the
36:00 - 36:30 same 100,000 but notice now instead of subtracting 40 I can only subtract 10 that leaves me with 990,000 which I now want to multiply by 40% and when I do that that's going to give me 36,000 I don't have to multiply it by 31 12s or 91 12 because for the second year I had for the full amount of time so
36:30 - 37:00 36,000 would be my year 2 answer so we'll put this one in bold and we'll put this answer in bold let's just do year three just to make sure we're okay in year three 100,000 what's my accumulated depreciation well the two that I put in bold total of 46,000 so far which would then give me 54,000 which I now want to multiply by
37:00 - 37:30 40% and let's see what that gives us 54,000 multipli by 40 and that gives me 216 and then we would just continue in that same approach um I don't know if we would end up into a sixth year um remember in this first example we
37:30 - 38:00 actually in year five ended up having a plug figure so chances are there'll probably be some plug scenario here as well but you would continue on uh in the same way that I've done it here okay so now you've seen an example of full year depreciation and partial year depreciation under the three Tex techniques and of those three the units of production method is the one that was
38:00 - 38:30 completely unaffected and let me just mention one other thing I think I said it at the beginning but if you were doing depletion depletion is um when you are uh dealing with a natural resource so if a natural resource has to be accounted for you would use the units of
38:30 - 39:00 production method the adjusting entry would be this you would debit let me copy this and then change some things you would depit something called depletion expense and you would credit something
39:00 - 39:30 called accumulated depletion so basically subst substitute the word depletion in for where you had depreciation and you're good to go so when you deplete you're basically depleting the ground of some substance some natural resource oil gold mineral deposits things like that diamonds so whenever you deplete the ground you're
39:30 - 40:00 dealing with a natural resource and if you have a natural resource then you have to use depletion expense instead of depreciation expense and instead of having accumulated depreciation you have accumulated depletion so depletion and depreciation very very similar in nature if you are dealing with an INT tangible asset like a patent copyright good
40:00 - 40:30 Goodwill things along those lines then you would have amortization expense so depreciation expense depletion expense amortization expense these are three different ways of writing stuff off over time systematically writing things off okay well I hope this helped I'll be doing another uh video here relating to what happens when you sell and exchange plant
40:30 - 41:00 assets I'll be doing that uh soon so look forward to that so again thank you this is professor samanam and I will be continuing more of these videos as we go further all right you guys take it easy hope to see you down the road and I hope these are helping you take it easy bye-bye