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Solving problems in Accounts is not so easy and thus you must take care of each topic and term in a proper way. For any confusion, you must take an exact help. Be careful and get the perfect assistance of experts. Straight Line Method is very important for you to complete with great accuracy before you start doing assignments. Now, you must understand that a lot of terms are there to explain a concept about Straight Line Method. In case you have confusion, then Straight Line Method homework help is the right option for you.

What is the importance of Straight Line Method?

Straight Line depreciation is a tool or method that tells the amount related to carrying of an asset till it is useful. It explains that a fixed asset of a company gets reduced value as time spends. Though it has purchased in a proper amount or its initial value was higher, but after a fixed time its value reduces. This is simple method and followed by every company.

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What are the various steps of a straight line method?

These are as follows –

  • What is the initial cost of an asset?
  • Now, what is the projected salvage value based on the amount that is recorded.
  • After that evaluate the estimated time that is useful for the asset.
  • Now get an exact depreciation rate by dividing 1 by used year as if 5 years, then it must be 1/5 years.
  • Finally you just need to get its actual value by multiplying the depression rate with asset cost.

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 What are the terms related to this?

The different terms are as follows-

  • Debit
  • Credit
  • Asset
  • Liabilities
  • Equity’s share
  • Salvage value
  • accounting Entry
  • Mid-month Convention

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