Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

units-of-output depreciation method

Read a random definition: subaltern

A quick definition of units-of-output depreciation method:

The units-of-output depreciation method is a way to calculate how much an asset has worn down or become obsolete over time. It is useful for figuring out how much of a tax deduction a company can take each year. This method takes into account how much the asset has been used or how many units it has produced, and allocates the cost of the asset over the accounting periods based on that output. This helps companies accurately account for the wear and tear on their assets and plan for their replacement in the future.

A more thorough explanation:

The units-of-output depreciation method is a formula used to estimate the wear, use, or obsolescence of an asset over its useful life. This method is useful in calculating the allowable annual tax deduction for depreciation.

For example, let's say a company purchases a machine for $10,000 and expects it to produce 100,000 units over its useful life. The salvage value of the machine is estimated to be $2,000. Using the units-of-output depreciation method, the company can allocate the cost of the machine over the number of units produced. If the company produces 10,000 units in the first year, the depreciation expense for that year would be:

Depreciation expense = (Cost - Salvage value) x (Units produced / Estimated total units)

Depreciation expense = ($10,000 - $2,000) x (10,000 / 100,000) = $800

The company can continue to use this formula to calculate the depreciation expense for each year based on the number of units produced.

Overall, the units-of-output depreciation method is a useful tool for companies to accurately allocate the cost of an asset over its useful life based on its productivity.

unit rule | units-of-production method

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
@RasheedWallaceFan: I'm a lit para of a decade, I'd be happy to proof.
10:35
i dont wanna do the lsat
10:35
its so boring
10:35
they should change it to making you write an essay on some foreign film
10:36
like la haine or the apu trilogy or some shit
10:36
that would be more interesting
NosyBeagle
10:38
@NemoPropheta: LSAT haters unite. This test sucks butt
10:43
I got 2 weeks left of this shit and I have 0 motivation
10:55
@RasheedWallaceFan: yeah for some reason SMU isnt listed on any of the rankings lists. Been that way all year
@NemoPropheta: you only got another 40+ years of it!
@PremiumFrequentCrane Is right.
You'll forever have those days where shit ain't getting done. Just a matter of how you handle them. (IE using Chatgpt to draft a motion for leave like meeeee)
NosyBeagle
13:52
look at my lawyer dawg... im going to jail
Nah, I don't use it to do my case law. Just the actual motion drafting.
For example, I was trying to get the right language in a Motion for Sanctions (tl;dr slip and fall case, defense counsel played nothing but games – IE never sending records despite it being mandatory to trcp, producing never before seen records DURING A DEPO) and just talked to ChatGPT about his behavior to provide background to help with the drafting for the procedural paragraph.
@NosyBeagle: just makes me think of vanillamace
@TiredOfThisGrandpa: I dont have LSD+ so cant dm but will def hit you up when I have them done! Also is ur username a reference to holes? lol
Can i get accommodations for mid test 2 hour nap
I mean, i have sadhd
15:34
you could get accommodations for the schizoaffective disorder you clearly have
NosyBeagle
15:53
a two hour nap in between sections would be great for me
ronniedoeslaw
15:58
LSAT isn’t horrible you just have to lock in really hard for 2 hours and expect to be exhausted the rest of the day mentally
16:30
ugh i hit this lady w my car
16:31
well i hit her car and the cops said there's no damage but she says there is should i call my insurance what u think lawyers
real quick question. How much do early applications matter? I have super strong softs and an ok LSAT score of 160. GPA wasn't great at 3.33. I applied in late march and I have been rejected everywhere so far
16:58
late march is way too late
16:58
early doesn’t matter but before thanksgiving matters
ronniedoeslaw
16:59
Have you used the LSAC search for schools link? It helps a lot letting you know the probability of acceptance.
I mean early early might be overblown but dont apply if you are applying in march
does anyone know how many questions they typically ask for the UT recorded interview
LSD+ is ad-free, with DMs, discounts, case briefs & more.