Attached. Please let me know if you have any questions or need revisions.1Running head: PRINCIPLES OF ACCOUNTINGPrinciples of AccountingNameInstitution of AffiliationDate2PRINCIPLES OF ACCOUNTINGQ1. Methods of depreciating plant assetsDepreciation in accounting is the systematic allocation of the cost of a physical asset, inthese case-plant assets, over the period in which services are received from the plant asset(Corporate Finance Institute, 2020). This caters for the gradual reduction in the value of the assetwith time due to wear and tear. There are several methods to calculate depreciation, below is adiscussion on some of them.The first and most popular way is straight-line depreciation. It is a simple way ofcalculating depreciation as it spreads out the value of the asset evenly throughout its useful life.Sometimes the asset may be sold at t…
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