Depreciation

Farm Management Depreciation and Asset Valuation

Word Bank
Asset, Book Value, Cost, Cost, Cost Less, Declining Balance, Depreciation, Economic Depreciation, Eight Hundred, Farm Production Cost, Fifteen Years, Five Years, Income Tax Depreciation, Lower of Cost, Market Value, Partial, Salvage Value, Same every year, Seven years, Straight Line, Sum of Years Digits, Tax Depreciation, Ten Years, Three years, Twenty Years, Useful Life, Zero

1 2 3 4

5

6

7 8

9

10 11

12 13

14 15

16

17 18

19

20 21 22

23 24

25

26

27

Across

5. Annual depreciation = (Cost - Salvage Value) / Useful life (2 Words)

6. Price paid for the asset

7. Wells, paved lots, drainage tiles (2 Words)

9. Accumulated depreciation: Book Value. (2 Words)

11. Annual depreciation using straight line depreciation (3 Words)

12. Linked to asset's reduced ability to produce revenue as it ages and wears out. (2 Words)

14. Straight Line Depreciation of: Machine worth 10,000, Salvage Value of $2,000 and a useful life of 10 years (2 Words)

17. Annual loss in value of an asset.

18. Cars, pickups, breeding cattle and sheep, dairy cattle, computers (2 Words)

19. General purpose buildings. (2 Words)

20. If salvage value is _____________, it is necessary to switch from declining balance to straight line.

24. Breeding Hogs (2 Words)

25. Annual depreciation = Beginning year book value x R (R is constant % Rate) (2 Words)

26. Conservative Method (3 Words)

27. The asset's original cost less accumulated depreciation (2 Words)

Down

1. Accumulated cost of producing the item (3 Words)

2. Must be done following rules of IRS (3 Words)

3. Allowable business expense for IRS purposes. (2 Words)

4. Most farm machinery and equipment, fences, grain bins, silos, office furniture (2 Words)

8. Something that is valuable to a business

10. Annual depreciation = (Cost - Salvage Value) X RL / SOYD (4 Words)

13. Fair Market Price less any transactions cost (2 Words)

15. for purchased items that do not normally lose value

16. Expected market value of the asset at the end of its useful life (2 Words)

21. If you buy a machine 7 months into the year you only figure ___________ depreciation.

22. Number of years the asset is expected to be used in the business (2 Words)

23. Single purpose ag/hort structures (2 Words)

Use the "Printable HTML" button to get a clean page, in either HTML or PDF, that you can use your browser's print button to print. This page won't have buttons or ads, just your puzzle. The PDF format allows the web site to know how large a printer page is, and the fonts are scaled to fill the page. The PDF takes awhile to generate. Don't panic!